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Council allocates $107,679 in economic development fees to three local nonprofits
Summary
The council approved awarding $107,679.08 in economic development-fee funds to three local nonprofits: Franklin Chamber Foundation, Franklin Heritage, and Discover Downtown Franklin.
Franklin City Council voted May 19 to grant $107,679.08 in economic development-fee funds to three local nonprofit organizations that applied for the city’s annual economic-development grants.
Community Development Specialist Dana Monson explained the fee is a voluntary contribution paid by companies receiving tax-abatement savings (2% of real-property savings or 5% of personal-property savings under state statute). For the 2024 pay-2025 tax year the city received…
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