FRANKLIN, Ind. — The City of Franklin announced major progress on a massive $50 million quality-of-life investment during a joint meeting of the Franklin Common Council and Franklin School Board on Monday, August 24.
After evaluating municipal recreation needs, local leadership developed plans for a multi-phase project to modernize public space. The comprehensive initiative includes expanding Scott Park and completely replacing the city’s aging 40-year-old pool facility.
City officials subsequently established a structured multi-source funding model to support the $50 million capital investment without relying solely on local property tax increases.
The project will draw from four distinct funding sources:
- Existing Cash Reserves
- Redevelopment Commission (RDC) Funds
- Economic Development Income Tax (EDIT) Funds
- Planned Municipal Bond Issuance
The funding plan is preliminary, and final council approvals will be formalized as the project timelines progress. All planned developments remain subject to public board reviews and official scheduling.
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