Council allocates $107,679 in economic development fees to three local nonprofits

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 $107,679.08, the largest total to date. Because state law requires the funds be used inside Franklin city limits for economic-development purposes, staff solicited applications from eligible nonprofits.

Three organizations applied. The EDC recommended and the council approved the following awards: $25,000 to the Franklin Chamber Foundation for small-business capacity-building grants; $25,000 to Franklin Heritage for a first- and second-quarter live-music concert series at the Artcraft Theatre; and $57,679.08 to Discover Downtown Franklin for a regional marketing campaign (including billboards, professional photography and social media) to support downtown businesses. The council approved the allocations by motion and voice vote.

Monson noted the Chamber plans to increase individual grant awards this year from previous smaller amounts, proposing $5,000 grants to approximately five small businesses. Franklin Heritage said the concert series would fill the off-season at the Artcraft Theatre and seek to draw evening visitors to downtown. Discover Downtown Franklin described a $57,000 campaign aimed at increasing regional visibility for downtown businesses.

Councilmembers commended the nonprofit applicants and the EDC for vetting the proposals. The council directed staff to enact the awards consistent with grant terms and to ensure spending remains inside the city limits as required by statute.