FRANKFORT, Ky. (AP) — The owners of a private hotel on public land in Kentucky’s capital city are discussing a new agreement that would prevent the state from competing with them through 2030.
The State Journal reports an agreement prohibiting the state from opening an inn within a mile of the Capital Plaza Hotel in Frankfort is set to expire in 2022. But that agreement could be extended through 2030 as part of a deal for how to redevelop 6.4 acres of land that once held the Frankfort Convention Center and the Fountain Place Shops.
Owners Max and Lee Allen declined to comment on the agreement until after it has been approved. The Allens also own three other hotels in Frankfort, giving them control of more than 60 percent of available rooms.
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Information from: The State Journal, http://www.state-journal.com