Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Plan Commission recommends creation of TID 10 to support Orchard View redevelopment
Summary
After a three‑hour public hearing, the Franklin Plan Commission voted to recommend that the Common Council create Tax Incremental District No. 10, a proposed 30‑acre blighted‑area district intended to support redevelopment of the Orchard View/Century Mall site into about 292 housing units and some commercial space; the recommendation moves to council on March 17.
The Franklin Plan Commission voted on Feb. 19 to recommend that the Common Council establish Tax Incremental District No. 10 (TID 10) and approve its project plan, advancing a proposal intended to fund cleanup and redevelopment of about 30 acres near S. 76th Street and W. Rawson Avenue known as the Orchard View/Century Mall area.
The project sponsor, Land by Label, proposes roughly 292 residential units with a small amount of commercial space. Consultants from Ehlers and SB Friedman described the mechanics and financial case for the district: Ehlers’ Arianna Schmidt explained that tax increment financing (TIF) freezes current parcel values at creation and captures only later incremental value for reinvestment in the district; SB Friedman’s Joe Krivicki said the firm’s gap analysis shows the project would achieve a below‑market leveraged internal rate of return without assistance and concluded, "this project would not proceed, but for, the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
