Milford Clerk-Treasurer Tricia Gall, center, signs a resolution for an excess value statement with Redevelopment Commission President Dan Brown, left, and Doug Ruch. At the Monday, May 13 meeting, it was determined there is no excess value to be passed back to Milford’s TIF districts this year. Photo by Lilli Dwyer.

By Lilli Dwyer
InkFree News

MILFORD — The Milford Redevelopment Commission held its annual meeting Monday, May 13, to inform any governing bodies of the impact the commission’s activities have had on their taxing units. No representatives of governing bodies were present at the meeting.

The commission also accepted a resolution for an excess value determination. An excess value determination states if there are any extra tax increment funds that must be passed back to impacted areas. According to Jim Higgins of LWG CPAs & Advisors in Indianapolis, Milford’s financial advising firm, there is no excess value to be passed back. Development of the Eastfield subdivision in the residential TIF district is still in infancy, and there have been no further developments in the industrial TIF district. The commission’s resolution will inform the state that there is no excess at this time.

The commission must also create a spending plan for the state before Dec. of this year.