EssayClub.com - Free College Essays and Term Papers

Franklin Eda Report

Town of Franklin
Economic Development Authority Report
Executive Summary

T
he Town of Franklin Economic Development Authority (EDA) has written an economic policy plan for the Town of Franklin. The plan is intended to advance dynamic and interactive discussion. It will be used to continuously assess and foster decision-making about the following in the Town of Franklin:

• Development
• Infrastructure
• Quality of life

Mission Statement
The purpose of the EDA is to foster a sustainable economy consistent with the town’s planning objectives. The mix of industry, commerce, open space, residential development, and the arts in Franklin results in the town’s vitality and an excellent quality of life for its citizens. Maintaining this balance is important.

Guiding Principles
Six basic principles guide Franklin’s economic policy. These principles seek to safeguard the special features that give the town its character while embracing appropriate economic opportunities.

1. Franklin should remain a major economic center of the region.
2. Economic activity must respect Franklin’s natural, cultural, and historic heritage.
3. A pedestrian-friendly core commercial center is essential.
4. Sustained economic prosperity requires a balance between residential development, industrial/commercial development, and open space.
5. Open space in the rural district must be preserved.
6. Investing in the infrastructure is necessary to maintain and expand the existing tax and job base.

Issues
Of Franklin’s approximately 64,000 acres of land, 12% is zoned for business, commercial, or industrial use, and 88% for residential development. Historically the town has relied upon business and industry to provide 35%-40% of the tax base, as well as employment opportunities. Non-residential development has traditionally been the backbone of the Franklin economy. Today, however, Franklin does not have a great deal of non-residential development potential.

The population...