Residential Revolving Loan and Grant Fund
This program is a cooperative community project developed to encourage and aid the rehabilitation and renovation of historic and/or underutilized homes within the Integrated Economic Development Area of historic Franklin.
Our program benefits everyone by
- increasing the homeowner's investment value
- improving our community's overall quality of life
- attracting great people to our community
Let's Talk About Your Project
What to Know
- Income limitations apply.
- Percentages of the loan that will be forgiven range from 50 to 100 percent based on occupancy and income.
- Loan proceeds may be used for exterior property renovation.
- Projects must adhere to the Corporation's architectural design guidelines.
- Approved applications will receive a loan of a maximum sum of $25,000, provided the loan makes up no more than 50 percent of the total market value of the improved property.
- The minimum loan amount is $5,000, and the amount of the loan that is forgivable for owner-occupied households will be directly proportional to an income limit documentation system.
Integrated Economic Development Area Qualification
This program is limited to residential structures located within these designated districts.
Property Recovery Task Force
The Franklin Development Corporation Property Recovery Task Force is a committee working together with the City of Franklin and the Johnson County Commissioners to assume properties that have been abandoned and/or go unsold at tax sale.
These are properties that the free market has been unable or unwilling to make whole due to a number of reasons, most commonly excessive delinquent taxes. Often the past due tax bill is too much of a burden to potential investors.
280 Circle Drive
The Property Recovery Task Force worked with Stout Renovations to restore this structure back to a safe, single-family home. The home had been abandoned for 10 years and squatters did serious damage. The renovations were begun in August 2021 and completed in November 2021. The property was sold to a single-family in December 2021.