Ashland Alliance

Ashland commission approves payments to hotel developers

ASHLAND, Ky. — The Ashland commission agreed to move more than $80,000 in bond money to business developers as plans to turn the Ashland Plaza Hotel into a four-star Marriott-brand progress.

The city authorized four separate payments on Thursday to WB Hospitality, LLC from the Tax Increment Financing, or TIF, bond proceeds to reimburse for construction work.

A TIF program is a tool commonly used by local governments to generate funding for large-scale public redevelopment projects or incentive packages for business development.

A majority of the TIF payments made to WB Hospitality approved last week – $51,376.35 – is for WB Hospitality to reimburse a contractor, Precedence Inc., for elevator improvements and other work at the hotel.

The remaining TIF payments to WB Hospitality are:

  • $14,229 for an invoice from CTC Design Studio
  • $8,472.12 for an invoice from Ponder & Ponder, Architects for architectural work
  • $6,236.60 for a separate invoice from Ponder & Ponder

The bond payments are part of a $4.6-million incentive package offered to the hotel developers, who plan to invest more than $17-million to renovate and rebrand downtown Ashland’s most popular landmark.

In order to finance the incentive package, the city, along with the Boyd County Fiscal Court, created a TIF district in downtown Ashland called the “Ashland Plaza Development Area.” The district exists between 14th Street, Bath Avenue, 16th Street and Greenup Avenue.


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