Beaver County agency approves interlocal agreements and tax-increment deal for Milford 2 expansion

The Beaver County Community Development and Renewal Agency on July 15 authorized interlocal agreements with the county, school district, fire district and hospital district and approved a tax-increment participation agreement tied to the Milford 2 expansion project. The actions were taken during a reconvened agency session of the Beaver County Commission and passed by voice vote with commissioners present indicating aye.

Agency staff described the action as the final step to allow the developer to secure financing. Jason (agency staff) said the interlocal agreements set the period over which tax-increment subsidies would be collected and that each taxing entity had already approved its own interlocal agreement. He told trustees the agency still needed to assemble executed copies of the four exhibits that document the individual interlocal agreements.

The board also approved a one-page resolution authorizing execution of a tax-increment participation agreement (resolution numbers referenced in the packet: 2025-12 and 2025-50). Agency counsel said the participation agreement ties developer payments to conditions such as issuance of a certificate of completion for required project infrastructure, timely payment of property taxes by the developer and continued operation of the project. The consultant noted that language requiring default interest in the event of delayed agency remittance had been removed and that the agency would make payments after the taxing entities completed their normal reconciliation and remittance processes; the agency’s payment deadline in the agreement was described as on or before May 31 following the tax year.

Brian (developer representative) noted the county and the developer have worked on the project for about 10–15 years and that some landowners in the project area had longstanding agreements with the developer. Commissioners Yardley and Hollings voted aye on the measures as recorded in the meeting transcript; Commissioner Pearson declared a conflict earlier in the meeting and did not participate in the related votes.

The agency’s approvals begin a public-noticing process and contestability period required before tax increments are collected and disbursed, agency staff said. The interlocal agreements and the tax-increment participation agreement together establish the mechanism by which a portion of new property tax revenue generated inside the Milford 2 expansion area may be used to reimburse project costs to the developer if the project meets the agreed conditions.