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Area Plan Commission approves Franklin Lofts allocation area for TIF support; project aims to convert 1919 building into 56 apartments
Summary
The commission voted 11–0 to approve APC resolution APC‑1‑2024, endorsing a Redevelopment Commission declaratory resolution to create a TIF allocation area that would support a 56‑unit rehabilitation at 1501 W. Franklin St.; project representatives said bonds will be purchased by the developer and estimated move‑in as early as August 2026.
The Area Plan Commission on Dec. 5 voted 11–0 to recommend approval of APC resolution APC‑1‑2024, which endorses the Evansville Redevelopment Commission’s declaratory resolution to establish a tax increment financing (TIF) allocation area to assist with the Franklin Lofts project in Jacobsville.
Adam Rice, a project representative, described the proposal…
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