Developer requests $2 million for new subdivision

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.

The full story is available to subscribers only.

Subscribers can read the entire story online by signing in here.

Not a subscriber? Become one today for as little as $11 by clicking here.

All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Click here to read our privacy policy.