Redevelopment commission hears proposal for tax-abatement tracking software

Adam Stone, founder of Stone Municipal Group, presented software to the Franklin Redevelopment Commission that centralizes tax-abatement documents, compliance tracking and cost-benefit modeling for proposed incentives. Stone said the tool incorporates recent changes from Senate Enrolled Act 1 and could “easily see a 5 to 10% improvement” in compliance efficiency while giving decisionmakers clearer cost-per-acre and revenue estimates.

Why it matters: Tax abatements and incentive packages can shift millions of dollars of local revenue; the software is designed to reduce paperwork, standardize compliance and produce apples-to-apples comparisons for housing, commercial and private projects. Stone described past experience as a city controller and said he witnessed “millions of dollars just traded hands” without sufficient review, which motivated the product.

The Economic Development Commission reviewed the software and recommended the city request funding to adopt the tool. Staff said they have a contract for services and will circulate it to commissioners; the item is expected back on the January agenda for formal contracting and a transition plan in which current compliance work would run concurrently with implementation next year.

Commissioners raised procedural questions about follow-up and how staff will funnel data and assignments; Stone and staff agreed to provide a written contract and implementation timeline. No formal procurement decision was made at the meeting.

Next steps: staff will share the proposed contract and place the item on the January agenda for formal consideration.