Milford Redevelopment Commission Vice President Chuck Bird, left, and President Dan Brown received the annual financial report at the Monday, April 14, meeting. Photo by Lilli Dwyer.

By Lilli Dwyer
InkFreeNews

MILFORD — The Milford Redevelopment Commission went over its annual financial report at its Monday, April 14 meeting.

For the year 2024, the commission ended with a remaining balance of $867,419.77.

In November, the commission agreed to loan up to $654,200 in interim funds to Milford Town Council. The funds are to cover expenses for the design work on the council’s water utility improvements.

Clerk-Treasurer Tricia Gall said she has so far transferred $327,847.73 to the town’s water department. All loan funds will later be reimbursed after the council closes on financing the project, which should be sometime in May, Gall mentioned.

“The catch 22 is you can’t get the government financing without the design, but you have to pay for the design to be able to close on the financing. We were fortunate to be in the position to be able to do that,” said President Dan Brown.

The annual report will also be made publicly available at gateway.ifionline.org.

In other business, the commission set the date for its annual meeting with its financial advisor, Jim Higgins of LWG CPAs and Advisors. The commission invites representatives of all its affected taxing units to go over its plans for the next year.

Lastly, the commission approved paying a fee of $562.50 to LWG for annual meeting services.

The annual meeting will take place at 10 p.m. Monday, May 12, followed by the regular public meeting, in the Milford Community Building.