Commission tightens reins on Franklin development group

Over the past six years, a city-created agency in Franklin spent nearly $5 million in tax dollars on grants, loans and projects, but that kind of payout isn’t going to happen again because the city wants more control over how money is spent.

If the Franklin Development Corp. gets more tax money in the future, it will be to fund specific projects, according to city redevelopment commission members, who control the tax money.

City residents and business owners have asked the Franklin Development Corp. to help fund about $400,000 in repairs to homes and shops after the organization stopped funding new projects last year. The organization doesn’t have enough money to pay for those projects and plans to approach the city redevelopment commission to request more money from the city’s tax-increment financing (TIF) districts.

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