Joint Review Board acknowledges annual filings for tax-increment districts; consultant reviews TID No. 8 development status

The City of Franklin Joint Review Board heard a report from Todd Toews of Ehlers on the status of the city's active tax-increment districts and approved a resolution acknowledging the filing of annual reports in compliance with annual meeting requirements.

Toews, introduced by the presiding official, reviewed TID No. 8 and said a prior agreement had postponed shortfall payments to facilitate a property sale; the new owner’s stated intent is to build on the site to generate assessed value. Board members discussed that the southeast quadrant infrastructure for the district is complete but that work in a southwest quadrant would require extending Hickory Street and adding water and sewer. Toews and others noted that proposed redevelopment in the southeast corner could include large warehouse or industrial buildings; the transcript references "3, 300,000 square foot buildings or 2 at least." The board also noted that a former Strauss site and a Verizon site are making shortfall payments.

Following discussion, the board adopted a resolution to acknowledge the filing of the annual reports and confirm compliance with annual meeting requirements; the motion was seconded and carried by voice vote. Later in the session, after additional district reviews (TID No. 6 and TID No. 7 were discussed), the board again moved to approve a similar resolution acknowledging filing of annual reports for districts under review and approved that motion as well.

Board members also discussed ongoing development activity on a site identified as Rock Ventures near Loomis, Rawson and Lewis streets and noted that some parcels had been cleared and that work had begun though no formal approach to the city had been made by the property owner according to remarks captured in the meeting.

The board scheduled separate procedural follow-ups and moved on to set dates for organizational meetings for new proposed TIDs.