Franklin’s RDC approved drainage appropriation that takes a step toward bringing a Texas Roadhouse to the city. The Greenwood location shown is at 270 S. Marlin Drive.
Waylon O’Donnell | Daily Journal
What was once a dream could become a reality in the coming years.
Texas Roadhouse is one of the top-mentioned eateries Franklin residents hope for and have asked city officials to attract. Though the restaurant hasn’t officially announced plans to open, the groundwork for the chain to open a Franklin location is being laid.
On Monday, the Redevelopment Commission unanimously approved a $100,000 drainage appropriation to entice the restaurant to open next to Interstate 65. The site being considered is a plot of land on Granville Drive that is situated behind the Culver’s, Starbucks and Taco Bell.
If the restaurant moves forward with the project and requests the appropriation it would be made using Tax Incremental Financing, or TIF, dollars, which are geographically targeted economic development funds generated from developments.
Mayor Steve Barnett says that the demand for a sit-down restaurant has been apparent since he stepped into the position. He’s been hoping to attract the restaurant here since he became mayor six years ago, he said.
“We’ve all heard that we need a sit-down restaurant,” Barnett said. “I have heard that almost every single day. I can assure you that I have been talking to Texas Roadhouse for over six years now. Utilizing our TIF dollars, we turned the entryway – the gateway into our city – into something special.”
The project qualifies for TIF dollars because stormwater from the currently undeveloped property runs east underneath I-65 into the TIF-allocated area. Culver’s and Starbucks currently use a smaller underground drainage system.
Barnett said that he has been planning to offer financial help with the drainage system to the first prominent sit-down restaurant that expressed serious interest in the area.
“We finally got to this point,” he said. “I want everybody to know that we are not in the habit of giving incentives to retail and restaurants, but it being the first one, there is some drainage issues out there that makes it a bit more difficult to develop.”
Although the city only pledged up to $100,000 to assist in the drainage improvements, the city estimated that the total cost would amount to over $200,000, a tab for which Texas Roadhouse would pay the difference.
Texas Roadhouse is expected to close on the property in January once some due diligence is conducted on their end, Barnett said.
Once they close on the property, they have until 2025 to break ground for the new restaurant. They will have those two years to redeem the $100,000, he said.
The city will then ensure that the work on the drainage system is correctly completed and will reimburse up to $100,000 based on those bills. If Texas Roadhouse does not send a bill that utilizes the total amount of appropriations, the restaurant would not be given the excess funding.
If billed by Texas Roadhouse, the $100,000 expenditure would most likely be deducted in 2025.
Despite this step, Barnett emphasized this is not a done deal and that the eatery could still pull out of the project.
“Just because we approved this $100,000 incentive, it does not mean it is going to happen for sure,” he said. “I feel good about Texas Roadhouse, but I also don’t want to put it out there that they are coming for sure on this specific date. I want everybody to know that this incentive is to try to get them here.
“They are interested, I don’t want to say that they are not. I just don’t want to send false hope to people that it is absolutely going to happen.”
Barnett said that he has witnessed companies that had been incentivized with tax abatements decide against establishing businesses in the community.
If all goes as planned, Texas Roadhouse could close on the property in early 2024.
