From the Johnson County Daily Journal:
A developer planning to build a new subdivision in Franklin is requesting $2 million in tax dollars to help start the neighborhood.
That money would cover 25 percent of the costs to help pay for building roads and extending sewers for the 149-lot Hillview subdivision on Upper Shelbyville Road, developer John Grimmer said. The Franklin Redevelopment Commission is considering the request.
The money would come from the city’s tax-increment financing, or TIF, districts, which set aside property taxes collected from new construction to be used for economic development. Neither Franklin nor Greenwood has ever spent TIF money to aid a residential development.
http://www.dailyjournal.net/view/local_story/Developer-requests-2-million-f_1385438938/#.UpVHKpV3uP8
