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Franklin City approves $27,500 trial for economic development software
Summary
The Franklin City Redevelopment Commission authorized a one-year trial contract with Stone Municipal Group to provide customized economic development software, intended to automate tax-abatement compliance and project incentive reporting; the trial was approved by voice vote and capped at $27,500.
Franklin City’s Redevelopment Commission voted to approve Resolution 2026-07, authorizing a one-year trial contract with Stone Municipal Group for economic development software not to exceed $27,500.
Staff presented the proposal as a tool to centralize and automate several tasks now handled manually, including tracking tax-abatement compliance, running incentive analyses for public and private projects, and streamlining outreach to companies. Presenters said the pilot will be customized to the city’s needs and that staff have selected 10 companies already partway through processes to help test the system.
Commissioners and staff described the software as primarily a time-saver and a way to produce clearer, customized reports for projects funded with public incentives, including TIF investments. Staff said the vendor can update calculations as tax law changes and that the system would help the city re-evaluate past projects and produce post-completion summaries on tax revenues and incentives.
The commission moved and seconded the resolution and approved it by voice vote. The contract was approved with a not-to-exceed amount of $27,500. Staff said they will report back to the commission as testing and implementation proceed.
The commission then moved on to other business, including an appropriation for a completed road project and a broader review of cash-flow projections and upcoming capital projects.
