A sign for The Paddocks on Frankfort's west side, next to Speedway on U.S. 127 near Interstate 64, says commercial and residential development are "coming soon" on 95 acres. (Photo by McKenna Horsley)

A company formed by a Harlan businessman has bought property on Frankfort’s west side. 

A State Journal reader recently asked about a 95-acre development called The Paddocks that has broken ground at U.S. 127 and Interstate 64. The property has a “Coming Soon” sign next door to the Speedway on U.S. 127 and adjacent to Holiday Inn Express and Suites. The sign says the project will include hotels, retail, restaurants and "high end multi family residential."

According to the Franklin County Property Valuation Administrator's website, a group called The Paddocks of Frankfort LLC owns two tracts in that area. The Paddocks bought one plot in September 2017 for $750,000 and the second section at the end of April 2019 for $525,000. 

The Paddocks of Frankfort organized in 2016, according to business filings found on the Kentucky Secretary of State’s website. The organizer is Don Parsons, of Harlan. 

Parsons is involved with other businesses, including Harlan gas station and convenience store The Commissary and Evansville, Indiana-based Diversified Instrument Services. 

Parsons did not return a request for comment by press time. He submitted an application for a grading permit to the city’s Public Works Department that was approved. 

Parsons is also listed as a member of Harlan Countians for Progress.  According to a 2018 Lexington Herald-Leader article, founders of Harlan Countians for Progress Parsons and the late C.V. Bennett sued the Harlan County Industrial Development Authority in 2014 after the authority blocked Parsons and Bennett from purchasing the T.L. Bayne Building, which was a county-owned industrial complex aimed at bringing in jobs.

The authority countersued, alleging that “Harlan Countians for Progress lied to the Kentucky Department for Local Government in 2009 in order to secure a lease for the building," the Herald-Leader reported. "It also alleges the group failed to live up to the requirements of the lease by not producing proof of insurance on the building, and by failing to bring promised businesses to the property.”

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