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Council votes to pursue up to $6M brownfield remediation grant for 100 Franklin Drive; Penrose identified as prospective developer
Summary
Council authorized staff to apply for a brownfield remediation grant (Resolution 143-288) for the 100 Franklin Drive site in partnership with New Colony Development Corporation; Penrose and The Cloud Company are prospective developers and members stressed need for a future fiscal analysis and any tax agreement would return to council for approval.
The council voted to authorize submission of Resolution 143-288, a brownfield remediation grant application up to $6 million, for the 100 Franklin Drive project. William (economic development director) explained that since an earlier 2025 application the maximum DCD brownfield grant limit rose from $4 million to $6 million and new environmental data indicate remediation of the site could approach $6 million.
William said the…
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