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Franklin RDC approves a package of 2025 appropriations and reviews December financials
Summary
At its January meeting the Franklin Redevelopment Commission approved a series of 2025 appropriations covering utilities, professional services, bond and lease payments, and several road projects; staff also presented December 2024 financials showing lower-than-expected property tax receipts and a cash-flow review planned.
The Franklin Redevelopment Commission unanimously approved a package of resolutions at its January meeting that appropriate funds for several 2025 expenses and carryovers, and received the December 2024 financial report.
Resolutions approved included: Resolution 2025-01 (utilities and maintenance appropriations), 2025-02 ($50,000 for financial, legal and professional services), 2025-03 ($1,353,000 for tax-increment bond payments), 2025-04 ($590,000 for lease rental revenue bond payments tied to the US 31 project), 2025-05 ($1,425,000 for Graham Road and Paul Hand Boulevard roundabout expenses using funds received from Johnson County and Whiteland), 2025-06 ($213,670 to appropriate REDI grant carryover for Earlywood Drive and Graham Road roundabout final invoices), 2025-07 ($151,148 for 351 E. Jefferson, discussed separately), 2025-08 ($2,000,000 for Paul Hann Road improvements funded by Malarkey Roofing per an economic development agreement), and 2025-09 ($753,678 for the extension of Graham Road, including $653,006.78 in REDI grant funds already received).
Most resolutions were presented by staff (Krista) who explained that many of these funds are already on hand — either via grant receipts or developer/economic-development payments — and that several items are appropriations so the Clerk-Treasurer can disburse payments to contractors and vendors. For example, Krista said the $2,000,000 for Paul Hann Road represents funds Malarkey Roofing wired under an economic-development agreement; the project has been bid and the contract awarded.
On procurement differences for the Paul Hann Road project, a participant noted a roughly $500,000 discrepancy between two bids (Milestone and O’Meara/Omera Contracting) that staff attributed to one bidder already having local fill dirt, which reduced their price.
During the financial review staff reported year-to-date receipts and expenditures and flagged a roughly $200,000 shortfall versus expectations for property-tax receipts; Krista said she will follow up with Jeff Peters and the county, verify investment amounts and update a five-year cash-flow projection to the commission.
Other business included a staff announcement that meetings are now being live-streamed to YouTube (new public-meeting requirement starting in January), a notice that Deb Gill (a school board representative) will attend the February meeting, and a year-end report from a downtown theater reporting record total attendance for the year (64,414) and expanded programming.
All listed resolutions were moved, seconded and approved by voice vote during the meeting. The commission set its next meeting for Feb. 18 at 8 a.m. and adjourned.
