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Council approves Franklin Lofts allocation area; bond ordinance to be introduced next meeting
Summary
The council adopted a resolution creating an allocation area for the Franklin Lofts project within the Jacobsville TIF and amended the redevelopment plan; speakers said the project could be up to 54 rental units with mixed incomes and that a bond ordinance will be presented to council next meeting.
The Evansville Common Council on Jan. 13 adopted Resolution C-2025-04, approving a declaratory resolution by the City of Evansville Redevelopment Commission to create an allocation area for the Franklin Lofts project within the Jacobsville redevelopment area and amending the redevelopment plan for that area.
Why it matters: The action clears a procedural step that allows the city to use tax-increment…
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