During today’s meeting of the Milford Redevelopment Commission, the town accepted a proposal from Umbaugh and Associates to develop an Economic Impact Study for a Tax Increment Financing district. The study will look at the affects of extension on the town, county, township, library, school and any other government-funded establishments.

In January, the commission discussed the possibility of extending the life of the northern TIF district for an additional 10 years. Although TIFs are normally permitted to be in place for up to 30 years, the TIF in question expires in 2016, making it a 20-year TIF and permitting the commission to extend the TIF an additional 10 years if it chooses.

The town had also been considering the possibility of adding on to the TIF district. The current TIF district is located in the northern part of Milford, beginning at the north side of Syracuse Street and travelling north to CR 1300. The west side the TIF stops just after Chore-Time Brock and does not take in the residential area, and on the east side it goes to the town limits. It is near the newest TIF district, which was created in December. The area in question covers just over 200 acres.

The town was hoping to annex around 12 acres of land directly to the east. The commission, however, was informed by Todd Samuelson, partner with Umbaugh and Associates, that any other annexed portions of land not currently connected to a TIF cannot actually be added on to the TIF and the worth of the land must be proven through an Economic Impact Study of its own.

Regardless, the commission has agreed to allow Umbaugh and Associates to provide studies for both the extension of the current district as well as the possible creation of an addition TIF adjacent to the northern TIF. Results of the study are expected within the next 60 to 90 days.

“It’s good to know, with what we’re considering, that we’re on solid ground,” Dan Brown, president of the redevelopment commission, stated of the decision.

The next meeting of the Milford Redevelopment Commission will be at 10 a.m. Monday, May 13.