Developing Howard County Eyes Hotel, Economic Tools for Nashville’s Future

Last week, the Developing Howard County board met for their regular monthly meeting.

Developing Howard County executive director Vanessa Weeks reported the hotel feasibility study had been completed. She said the study showed Nashville could support a 60 to 70 room hotel. Weeks said she and others will now start collecting estimated construction cost and possible location sites.

Weeks and Nashville Mayor Larry Dunaway reported the Developing Howard County and City of Nashville will split the $7,500 for the cost of the feasibility study.

State Representative Dolly Henley and Dana Poindexter of the Arkansas Economic Development Committee were in attendance and spoke the board members about Senate Joint Resolution 15.

SJR15 is a constitutional amendment concerning economic development in the state and authorizes the general assembly to provide for the creation of economic development districts to promote economic development.

To do that SJR15 would allow economic development districts to reinvest revenues locally and offer targeted property tax exemptions. It would also allow cities and counties to grant or lend money directly in an effort to offer quick, competitive deals. The amendment would allow broader project eligibility for retail, sports complexes, corporate headquarters, logistics and mixed-use developments. Projects would also be backed future project revenues, which would not count against local debt limits.

According to Henley and Poindexter, this measure would help level the playing field for the state of Arkansas with all of the other surrounding states that have similar incentives.