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Franklin begins policy discussion on infrastructure development districts; board debates public benefits, transparency and caps
Summary
Staff presented a draft policy framework for state-authorized Infrastructure Development Districts (IDDs) and sought aldermanic guidance on measurable public benefits, disclosure practices and whether to cap assessments; aldermen, developers and finance professionals commented at length.
City staff presented a draft policy framework and examples for Infrastructure Development Districts (IDDs) at the Aug. 26 work session, seeking guidance on three core areas: community public benefits, disclosure and transparency requirements, and whether to set a cap or limit on assessments.
Staff outlined proposed measurable public benefits that applicants would be expected to deliver in exchange for an IDD, including: construction or financial contributions to city priorities (for example multimodal transportation) valued at a minimum of 1% of the funded value of the development district; funded public infrastructure (roads, utilities, stormwater) valued at a minimum of 1% of the funded value; high‑quality placemaking elements that exceed base design standards; preservation or adaptive reuse of historic structures (when applicable) valued at a minimum of 1% of district value; and…
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