The City of Frankfort received a $20,000 grant from the Community Foundation Serving Howard, Carroll and Clinton Counties that will be utilized to complete the Frankfort Housing Feasibility Study and Downtown Parking Feasibility Study.
According to city leaders, the housing study will require around ten to twelve weeks to complete with a goal to assess the needs of Frankfort and look toward future opportunities for growth in the future. The study will assess the types of housing available in Frankfort and derive a number of residential options available, and the study will quantify the price of square footage for rentals as a means of satisfying inquiries from investors and developors into potential returns on investment.
Frankfort Mayor Judy Sheets stated that the studies have been placed at the forefront for the city to employ due to feedback city officials have received from the community.
“There have been two complaints that we have heard from citizens and businesses, including its downtown parking and insufficient housing,” Sheets said. “The housing shortage is happening across Indiana, and we know that our Industrial Park and incoming jobs from the surrounding area could impact our housing.”
The parking study will require around eight to ten weeks to complete and will explore the downtown area to assess the current parking policies, quantify the number of parking spots that would be needed downtown currently and theorize how many parking spots would be required downtown in the event of Frankfort’s expansion in the future.
Kimberly Black, Community Development Director, stated that assessing the parking availability within the downtown area has become a priority for the city due to its continued search to expand the opportunities in downtown for citizens, business owners and visitors.
“I am constantly seeking grant opportunities for projects and feasibility studies in our community,” Black said. “I am data-driven, so once we have these studies, we can go out and attract investors, developers, etc., because we have data to back up what we are trying to accomplish. We want to encourage our downtown property owners to have apartments or multi-use spaces but to continue growing, we will need more parking. The question is how many spaces, what type, and how can we accomplish that to keep our downtown thriving and vibrant.”
Sheets concluded her statements by commenting that the partnership with the Community Foundation has allowed for the feasibility studies to be conducted, and the city looks forward to the potential to expand its downtown area and housing opportunities well into the future.
“Our partnership with Community Foundation is wonderful,” Sheets said. “They see the community changing and are always here to see how they can help our community grow.”
For more information regarding the feasibility studies, contact Kimberly Black at [email protected] or 765-659-6770.