Milford Redevelopment Commission has appointed a new attorney to lead them through the process of setting up a new tax increment financing district.
Bob Murphy of RP Murphy and Associates told committee members at the last meeting, three weeks ago, that it would be in their best interest to find a new attorney who could pursue the project at a faster rate than he could, since he is currently winding down his career in preparation for retirement. The new attorney, Jay Rigdon of Rockhill Pinnick LLP, hopes to get the project done for under $4,000 and as quickly as possible.
At the meeting on Wednesday, which was the second meeting for the month of September, Rigdon stated he planned to create an “enabling resolution,” to allow him to begin work for the town as it continues to work toward the new TIF district. Rigdon confirmed that the TIF district is identical to the annexed portion of land.
The land in question is northeast of Milford.
Another large piece of land to the north of Milford’s newly-annexed parcel, is also looking at potentially becoming a TIF district through the county, if a large agricultural processing facility decides to locate there. That land is in the county, just north of the CSX railroad tracks.
“We’re holding our own and it speaks highly of the county,” George Robertson of Kosciusko County Economic Development Corporation said regarding the influx of companies looking to expand to Kosciusko County. Including the agricultural company looking to expand to Milford, there are just under 10 companies looking at property in Kosciusko County.
According to Robertson, if the agricultural company that is currently looking at the area selects the site for its new processing facility, the county will move to establish a TIF district on the parcels and to significantly improve the roadways of CRs 1300 North and 100 East.
According to Robertson, if the county does establish a TIF district on the property north of the tracks, then it will also move to enact an interlocal agreement with the town for the purpose of improving CR 1300N — half of which becomes a town road with the recent annexation. Any revenue made inside the TIF districts would then first go to bills for water and sewer service, then go toward paying down the bonds that will be necessary in order to improve the road and build an overpass.
The commission also asked Wessler Engineering to review a study that Jones and Henry Engineers had provided in an effort to boost water pressure on the east side and in the new TIF district. Redevelopment may have to pay the costs associated with that from their yearly budget.
The next meeting is scheduled for 10 a.m. Monday, Oct. 15.