Agency leader resigns, will receive severance

The leader of a Franklin organization created and funded by the city has resigned and will receive a severance package of up to $24,500.

Franklin Development Corp. chief executive officer Craig Wells resigned from the position he’s had since 2009. The resignation was a mutual agreement between Wells and board members, board president Larry Koenes said.

Franklin city officials have pushed to have more involvement in the nonprofit organization, which was originally started with more than $5 million in tax dollars from the city’s tax-increment financing districts, which set aside property taxes collected from businesses for economic development.

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