PINEVILLE, Ky. (WYMT) - The investor for the proposed Wasioto Hotel and Resort in Bell County has backed out.
Now Pineville city officials are trying to get a new investor to build the hotel.
Pineville City leaders want a new $14 million hotel and resort in the town; however, officials say the investor for the project backed out.
"It was a big disappointment with the last investor," said Pineville Mayor Sherwin Rader.
Mayor Rader says the investor cited last year's controversy over using restaurant tax dollars to help pay for the project as the main reason for backing out.
The Attorney General's office ruled Pineville can use restaurant tax dollars towards the hotel project.
Pineville City leaders are trying to get a new investor. Mayor Rader says an unnamed investor outside of Kentucky is interested.
"He stated he feels like this is a very do-able project and he's extremely interested," said Mayor Rader.
Members of the new Bell County Tourism Board are also helping to secure an investor for the project.
"As a business person here, as part of Pineville, as part of Bell County, and a board member of Tourism, I certainly support it," said Mike Long.
The investor plans to visit Pineville next week.
"Hopefully they'll come in and look at the site and be able to move this project forward," said Mayor Rader.
The current plan calls for 100 hotel rooms, a conference center, and restaurant. City leaders hold on to hope it will be built.
Mayor Rader says if this investor does not agree to the project, they will continue to look for another investor to commit to the hotel.
Enter your number for a chance to win great prizes!
Message and data rates may apply