Franklin offers grants, low-interest loans for home renovation - 13 WTHR Indianapolis

Kris Kirschner/Eyewitness News

Johnson County - In the past ten years, communities in Indiana witnessed a housing boom followed by an alarming foreclosure rate. The result is a rash of vacant homes. One Johnson County community is trying to turn those numbers around.

Drive through nearly any Johnson County neighborhood, and there's a good chance you'll spot the empty houses. The vacancies, largely due to foreclosures, grew at alarming numbers according to the latest census figures which showed that although the number of homes went up in Johnson county by 25%, empty homes grew by more than 65%. That's one of the highest increases in the state.

"It's not as dire as it may appear when you look at the numbers," said Craig Wells, Franklin Development Corp.

In at least one Johnson County community, there's an effort to turn those numbers around.

"We are hoping to create, to stimulate additional demand for housing here," said Wells.

In Franklin, an effort is underway to remodel vacant or abandoned homes to attract more people to this community by providing low interest loans and grants to homeowners.

"This was vacant for 18 months when we got it," said Scott Brown, homeowner.

Scott Brown is in the process of remodeling a historic home he purchased last year.

"We would never have been able to do the project without that," he said.

Not only is he realizing a dream, but his newly remodeled home is a model for the rest of the neighborhood.

"Just doing one home on a street, next year the next home and goes around the whole community," he said.

"It's priming the pump to get private funding into Franklin," said Wells.

The loans and grants to revitalize homes is paid for through TIF money and is part of a bigger redevelopment effort going on in Franklin. The city also plans a marketing campaign to attract people to that city.