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Franklin reviews draft policy for state infrastructure-development districts amid concerns over scope and caps
Summary
City staff presented a draft policy for the state’s infrastructure development districts (IDDs) that would set measurable public-benefit criteria, disclosure requirements for buyers and propose an assessment-cap example; aldermen and members of the development community urged simplification and market alignment.
City staff and outside counsel presented a draft policy framework for Tennessee’s new infrastructure development districts (IDDs) to the Board of Mayor and Aldermen on Aug. 26, focusing on three sections: measurable public benefits, disclosure/transparency requirements and possible caps or parameters on special assessments.
Vernon (staff/counsel) outlined four categories of public benefits staff suggested the city require when granting an IDD: (1) construction or financial contributions to city priorities (multimodal improvements) valued at a minimum of 1% of the IDD-funded value; (2) public-infrastructure improvements beyond those required to serve the development, also valued at a minimum of 1%; (3) high‑quality placemaking and architectural elements exceeding base standards; and (4) preservation/restoration of historic resources or public art (also with a 1% valuation example).
A second category emphasized enhanced public service and safety, with…
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