The Town of Milford Board of Selectmen entered into agreements with Eecotech Capital Partners M-1, LLC of Bedford, NH, on Friday, March 4, 2011 for options to purchase approximately 120 acres of undeveloped Town-owned property commonly referred to as the “BROX Property”. Details Here
A little bit of history: In 2006 the Town authorized the Board of Selectmen to sell the former Police Station site. In 2001 and again in 2011 voters authorized the sale of the BROX industrial-commercial parcels. Over the past ten plus years concerted efforts have been made by such groups as the Milford Industrial Development Corporation and the West Milford Tax Increment Financing District Advisory Board (TIF Board) to plan and market the BROX parcels, however given the development constraints and ever-changing economic climate the task has been difficult. In the summer of 2009 the TIF Board was approached by Andover Consulting Group with a long range plan for development of Elm Street and BROX properties.
Where we are now: The option agreements are a result of over a year and a half of discussions and negotiations between the developers, Town staff, the West Milford Tax Increment Financing District Advisory Board, and the Board of Selectmen. The option agreements spell out a multi-year process that includes developer due diligence, a commitment to work closely with the Town staff and Planning Board on a zoning overlay district (the West Milford Development District) to guide the development of the parcels based on community input and support. After the overlay district has been created and approved by voters, the developer will work through the Planning Board to create a master land use plan that lays out phased development to be approved by the Planning Board, and site plan approvals that are expedited yet conform to the vision set forth in the proposed overlay district. The Selectmen, Planning Board, TIF Board, and Economic Development Advisory Council, in partnership with Eecotech Capital Partners, will continue efforts this coming year to implement the milestones in the option agreements.
The anticipated end result for this area of Milford will allow for environmentally sensitive mixed use development based on well-thought out master planning, providing jobs and significant property tax base revenue.