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Franklin JRB hears pro forma for TID 10; consultants say development unlikely without public assistance
Summary
The City of Franklin Joint Review Board held an organizational meeting Feb. 16 to review the proposed TID 10 project plan. Third‑party analysis by SB Friedman found the 292‑unit residential project produces below‑market returns without public assistance and concluded the project "would not occur, but for the assistance as requested."
The City of Franklin Joint Review Board met Feb. 16 for an organizational session on proposed Tax Increment District (TID) 10 and heard a third‑party financial review concluding the planned residential project is unlikely to proceed without public assistance.
At the meeting the board appointed Sally Smiths as the public member and reappointed John Regatz as chair. No final action to create the TID was taken; the hearing and decision schedule remains: a plan commission public hearing Feb. 19 at 6 p.m., common council consideration March 17, and a return to the JRB for a final determination on whether the statutory "but‑for" test is met at a later meeting (the JRB set March 25, 2026 at 6 p.m. as a tentative date).
Ehlers, the city's public finance adviser, summarized the TIF mechanics and TID 10 specifics, saying the proposed district covers about 30.31…
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