Four projects to renovate a downtown Franklin building, expand a community college, promote local athletics and help fund a new cafe were given initial approval by a city-funded organization.
The Franklin Development Corp. approved spending nearly $1.3 million in taxpayer dollars on the projects and turned down seven others. But members of the board said some of the projects that were turned down could be given funding later if more details are worked out.
The organization, which was created and funded by the city, had asked for proposals on how to spend $1.2 million set aside to invest in projects. The organization is funded primarily with $5 million from Franklin’s tax-increment financing districts, or TIF districts, which collect property taxes from certain businesses primarily for economic development projects.
The four projects the board approved focus on creating positive change in a short period of time, board member Ted Grossnickle said.
When asking for project proposals, the board had asked for projects to include partnerships by multiple organizations, not focus solely on infrastructure, be able to be done within 24 to 34 months, focus on the downtown area, encourage redevelopment, be partially funded with money from the group proposing the project, promote quality of life and make the city distinctive.
