The Town Council of the Town of Millville will hold a Public Hearing on Tuesday, September 9, 2008, at 7:00 p.m., located at the Town Hall, 11 Club House Road, and will read for possible adoption draft Resolution 08-02. Adoption of this Resolution shall be and constitute an “Official Intent Resolution” within the meaning of Section 1.150-2 of the Income Tax Regulations prescribed by the U.S. Treasury Department, in connection with the potentially-to-be-created Millville by the Sea Special Development District (“SDD”), with a fifty-five million dollar ($55,000,000.00) maximum principal amount of obligations expected to be issued for this project. (Bonds issued to fund the Special Development District Improvements will not be the financial obligation of the Town of Millville; such bonds will be paid by special taxes levied only upon properties located within the SDD.) The project will consist of the development of a 740-acre master-planned community located in Millville, Delaware, which is expected to contain approximately 3,000 residential units. In addition, the development will contain approximately 250,000 square feet of commercial space and a 90,000 square foot medical facility to be developed by Beebe Medical Center. The improvements will consist of a sewage treatment plant; sewer lines and related appurtenances; roads; lighting; landscaping; identifying monuments; signage; traffic signals; sidewalks; acquisition of a new town hall or other facility and renovations thereto; acquisition of a new town public works facility with garage, including land therefor; acquisition of an approximately three- to five-acre town park with a pavilion and other park equipment; improvements to the existing town hall; and such other public improvements as the Owner and the Town Council mutually agree; moving of the Town garage to rear of property with new foundation. The Resolution can be reviewed at the Town Hall during regular business hours, Monday through Friday 9:00 a.m. to 4:00 p.m. If unable to attend the Public Hearing, written comments will be accepted prior to the hearing.
The Town’s Regular Monthly Meeting of Town Council will follow immediately after the Public Hearing.
CP 20080822 2T