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Redevelopment commission approves start of TIF 3 declaratory process
Summary
The Milford Redevelopment Commission voted to begin the public process on a declaratory resolution to create a new tax increment financing allocation area (TIF 3), setting 2026 as the base year and directing the resolution to the planning commission first.
The Milford Redevelopment Commission voted to start the public process for a declaratory resolution that would establish a new tax increment financing allocation area (TIF 3). Chair (S2) called for the motion to begin the process and the commission approved it by voice vote.
Staff member (S4), who outlined the timeline for the TIF, said, "And this establishing in 2026 will make 2026 the base year." Staff explained that the new area would first generate increment in 2027, with those receipts normally arriving in 2028, and described the sequence of approvals required: planning commission recommendation, town council approval of that recommendation, and then a public hearing and confirmatory resolution before the redevelopment commission.
The resolution passed today is a procedural first step; staff and commissioners noted it can be adjusted later in the sequence before a final confirmatory resolution. After passage, staff agreed to prepare necessary planning‑commission materials and file the signed declaratory resolution with the planning commission and town council for their review.
