Milford Town Council Continues Process Of Beer Property Annexation
July 28, 2016 at 4:25 p.m.
By John DeGroff-
The land in question is roughly 220 acres north of CR 1300 and Old Ind. 13, owned by the Beer family and managed under a trust known as BTB Investments LLC. The family approached the town council several months back regarding voluntary annexation.
Daniel F. Brown, representing the Milford Redevelopment Commission, presented the council with a list of recommendations why the annexation should move forward.
"This property, known as TIF district No. 2, allows for the ability to capture the increased evaluation of any development that may occur on the property," Brown said. "Because of access to the railway and the highway, the property is extremely attractive to industries."
Brown said that during a meeting with the Kosciusko Economic Development Commission, and with Jones & Henry Engineering out of Fort Wayne, the issue of certain upgrades needed to service the property was brought up. The two biggest needs are replacement of the east side lift station, at a cost of $186,000, and the addition of a booster pump station and a new well, at a cost of $400,000.
Milford's existing TIF district No. 1 lies within the area currently served by the east side pump station, which would allow funding of its replacement from TIF No. 1 money. Water pressure in the northeast portion of TIF No. 1 is currently lower than desirable. If this part of TIF No. 1 were to be included in the new pressure zone created by the new booster pump station and well, it is anticipated that TIF No. 1 funds could also be used for this project.
"TIF district No. 1 captured $143,000 in 2010 and the annual amount has been rising," Brown said. "Provided the rate continues, sufficient funding will be available within three years to pay for the improvements."
Milford currently has $252,000 in unencumbered TIF district No. 1 funds available, with future anticipated receipts ($143,000 per year times three years totaling $429,000) available by the end of 2013 to be $681,000.
The redevelopment commission's favorable recommendation is conditioned upon the developer participation as follows:
1. Provide land in TIF No. 1 for the pump station and well field, allowing for improved water pressure and low in addition to servicing the proposed annexation area.
2. Pay for cost of investments required in excess of available TIF funds, with reimbursement from redevelopment commission as funds become available. To the extent that is it determined that TIF No. 1 funds cannot be used for any portion of the required investment, then developer funding would be used for that portion with reimbursement from the new TIF No. 2 district as development occurs and funds are made available.
Council agreed that this overall proposal should move forward. The next step is that the property owners themselves have to formally petition council for the annexation. There are a couple of existing homes in the area, but no existing structures will be included in the new TIF No. 2 district. It was mentioned that council could offer the property owners involved the option of hooking into the new water and sewer lines when they are installed.
According to town attorney Jay Rigdon, if the property owners file the necessary paper work by the next council meeting, the annexation process could begin. It will happen in two distinct phases, since the land is in four separate parcels. The process could be completed by November.
In other economic news for Milford, Brian M. Bailey, representing Brock Grain Systems, 611 N. Higbee St., Milford, approached the council regarding a proposed five-year tax phase-in plan. This would allow the company to purchase $4.3 million worth of new equipment. While the company is not planning on expanding its buildings or immediately adding more jobs, Bailey emphasized that it will allow for the retention of key skilled jobs, and will over time increase the company's tax base.
Bailey presented the council with copies of all necessary documents and a public hearing will be scheduled during next month's council meeting. If there is no opposition to the proposal by Brock Grain Systems, the company could go ahead with its equipment purchases.
In other business:
n It was announced by town marshal Rich Miotto that, as part of the Severe Weather Preparedness Week, the town will test its tornado warning sirens Wednesday between 10 and 10:30 a.m. and again between 7 and 7:30 p.m.
n The utilities department will conduct fire hydrant flushing March 23 at 6 a.m., and meter readings will be Thursday and Friday.
Milford town council members are Gary Hurd, Robert Cockburn and Douglas Ruch.[[In-content Ad]]
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The land in question is roughly 220 acres north of CR 1300 and Old Ind. 13, owned by the Beer family and managed under a trust known as BTB Investments LLC. The family approached the town council several months back regarding voluntary annexation.
Daniel F. Brown, representing the Milford Redevelopment Commission, presented the council with a list of recommendations why the annexation should move forward.
"This property, known as TIF district No. 2, allows for the ability to capture the increased evaluation of any development that may occur on the property," Brown said. "Because of access to the railway and the highway, the property is extremely attractive to industries."
Brown said that during a meeting with the Kosciusko Economic Development Commission, and with Jones & Henry Engineering out of Fort Wayne, the issue of certain upgrades needed to service the property was brought up. The two biggest needs are replacement of the east side lift station, at a cost of $186,000, and the addition of a booster pump station and a new well, at a cost of $400,000.
Milford's existing TIF district No. 1 lies within the area currently served by the east side pump station, which would allow funding of its replacement from TIF No. 1 money. Water pressure in the northeast portion of TIF No. 1 is currently lower than desirable. If this part of TIF No. 1 were to be included in the new pressure zone created by the new booster pump station and well, it is anticipated that TIF No. 1 funds could also be used for this project.
"TIF district No. 1 captured $143,000 in 2010 and the annual amount has been rising," Brown said. "Provided the rate continues, sufficient funding will be available within three years to pay for the improvements."
Milford currently has $252,000 in unencumbered TIF district No. 1 funds available, with future anticipated receipts ($143,000 per year times three years totaling $429,000) available by the end of 2013 to be $681,000.
The redevelopment commission's favorable recommendation is conditioned upon the developer participation as follows:
1. Provide land in TIF No. 1 for the pump station and well field, allowing for improved water pressure and low in addition to servicing the proposed annexation area.
2. Pay for cost of investments required in excess of available TIF funds, with reimbursement from redevelopment commission as funds become available. To the extent that is it determined that TIF No. 1 funds cannot be used for any portion of the required investment, then developer funding would be used for that portion with reimbursement from the new TIF No. 2 district as development occurs and funds are made available.
Council agreed that this overall proposal should move forward. The next step is that the property owners themselves have to formally petition council for the annexation. There are a couple of existing homes in the area, but no existing structures will be included in the new TIF No. 2 district. It was mentioned that council could offer the property owners involved the option of hooking into the new water and sewer lines when they are installed.
According to town attorney Jay Rigdon, if the property owners file the necessary paper work by the next council meeting, the annexation process could begin. It will happen in two distinct phases, since the land is in four separate parcels. The process could be completed by November.
In other economic news for Milford, Brian M. Bailey, representing Brock Grain Systems, 611 N. Higbee St., Milford, approached the council regarding a proposed five-year tax phase-in plan. This would allow the company to purchase $4.3 million worth of new equipment. While the company is not planning on expanding its buildings or immediately adding more jobs, Bailey emphasized that it will allow for the retention of key skilled jobs, and will over time increase the company's tax base.
Bailey presented the council with copies of all necessary documents and a public hearing will be scheduled during next month's council meeting. If there is no opposition to the proposal by Brock Grain Systems, the company could go ahead with its equipment purchases.
In other business:
n It was announced by town marshal Rich Miotto that, as part of the Severe Weather Preparedness Week, the town will test its tornado warning sirens Wednesday between 10 and 10:30 a.m. and again between 7 and 7:30 p.m.
n The utilities department will conduct fire hydrant flushing March 23 at 6 a.m., and meter readings will be Thursday and Friday.
Milford town council members are Gary Hurd, Robert Cockburn and Douglas Ruch.[[In-content Ad]]
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