Right now, there isn’t a consensus among Mayor John Schroer and the city’s eight aldermen about how to do all of that.
Aldermen have already discarded early attempts this year at setting a new capital improvements project list and are going back to the drawing board again. Their early top priorities were widening Hillsboro Road, starting the “Streetscape” road project on a portion of Columbia Avenue and launching Phase III of McEwen Drive.
All told, that would mean spending $32.5 million total during the next three years on that work.
Meantime, Schroer wants to lay out a spending plan to cover project costs across the next five to 10 years that might help the aldermen see what’s been spent already and what needs to come.
For instance, Franklin has committed to spending more than $2 million on the Mack Hatcher Parkway extension this year and $4.8 million on building a new Interstate 65/Goose Creek interchange in 2013.
“What we have to do now is look at what we’ve got on our capital expenditures (list) and make some hard decisions,” Schroer said. “Maybe we can only do only one of these projects right now. But in six months, if the economy changes and trends start growing, we can look at this model and maybe we can do some other things.”
Money Worries Hinder Effort
First begun last year, the capital improvement projects list is a relatively new task for aldermen. Aldermen rank their top projects, assigning different points to the projects of greater importance. Some of those projects are being designed while others are in the midst of construction.
This year, Schroer asked the city’s financial consultants at the PFM Group to create various spending scenarios and how those costs might potentially impact the city’s bond rating. Franklin is one of only three Tennessee cities with an AAA rating from Moody’s Investor Service.
With much of the city’s revenues coming from local sales taxes, which have slowed during the national recession, Franklin officials are nervous about spending and covering debt.
The city had estimated sales tax collections to be around $24.1 million for 2009, but city leaders say that number is likely to be lower now. The total in 2008 was $23.6, records show. New construction also is down.
Those worries prompted Franklin leaders to cut the city’s budget this spring from $59 million to about $56 million. Then they set an even smaller figure of $54.5 million for the 2009-2010 budget.
But Alderman Ann Petersen worried that the city’s existing debt taken on in years past will hurt this board’s ability to launch new work.
“Years before, they saddled us with a lot of things that we don’t have any control over,” Petersen said.
Few Projects Will See Money
Even though aldermen had 71 projects to choose from in their rankings, financial reality is already forcing aldermen to concede that only a few will get money.
“We will not fund our top 10,” said Alderman Pearl Bransford. “Through the work of this board and the various scenarios we might come up with two, possibly three, and that’s going to be it.”
Alderman Clyde Barnhill wants to re-examine previous construction bids to see if money might be saved through rebidding those projects.
One project on the list that’s faced the criticism is the launch of the next phase of the city’s Streetscape project on Columbia Avenue between Five Points and Fowlkes Street.
That work, which includes new sidewalks, Could cost more than $4 million.
Lambasted by some as mere beautification and hailed by supporters as possibly spurring economic development, the Streetscape work still is dividing aldermen.
Petersen and McLendon remain opposed to it ever being launched. Said McLendon: “We’re putting up the wallpaper, and we don’t have a roof.”
But Alderman Beverly Burger sees the Columbia Avenue project as one that could mean helping the city.
“I see a deeper meaning here that is important for the city if we’re ever going to grow our tourism,” Burger said.
“I think it’s a good business decision, not only for today but also five to ten years from now.”
