WILTON – The town may be in line to receive significant funds from a variety of state and federal sources and needs to have a plan in place to apply for them.

Economic Development Committee Chairman Jennifer Beck discussed the possibilities with the Board of Selectmen on May 17 and presented a list of possible projects collected from discussions with the Conservation Commission, along with a request for considerations about changes to the town operating model.

Her committee is requesting a more formal process for identifying and prioritizing projects, “we can then match to various funding sources. When addressing needs.”

That type of planning is informed by a number of sources including the Planning Board’s master plan, input from residents and businesses, the Capital Improvements Plan and research the economic development team is doing, she said, which “positions the town for state and federal funding.”

Beck’s list “includes what’s needed and everybody’s wish list.” It covers everything from solar arrays, cell tower enhancements, and updating the town’s water supply to improving outdoor recreation, the on-going development of the River Walk, and removing some dams and improving hydro power.

Cost of the various projects has not been determined.

One of the feasible possibilities is the Frog Pond. The state Department of Environmental Services Dam Bureau has cited deficiencies in the earthen dam and reclassified it as a “significant hazard” because of possible economic loss downstream.

Jeff Stone, a volunteer who “keeps an eye on it” for the Conservation Commission, walked the area with them, said DES had reclassified it to a “significant hazard.”

“They came back in October and invited the Conservation Commission to discuss their findings.” He added, “Hillsborough County Commissioners asked us for projects that might be eligible for the funds. The Frog Pond is one of those.”

They are looking for public support, he said. “It is worth preserving.”

The area, which is accessible from both Maple Street and Whiting Hill Road, is popular with walkers and bird watchers, “We are trying to determine how many people use it,” Stone said.

An engineering study would be required to determine costs, and nothing can be done before next town meeting. Options range from rebuilding the dam to removing it.

The EDC list says, unless the turtle and amphibian breeding grounds are preserved (by keeping the dam and pond in place), a valuable wetland and wildlife habitat will be lost.

The town has two years to make a decision.

Suggestions include placing a conservation easement of the pond, repairing the dam, and opening the area to more passive recreation such as cross-country skiing, and snowshoeing. The area abuts the Carnival Hill area and activities could be combined.

The project is complicated by the fact that about half of the Frog Pond is located in Milford. The pond was created in the 1920s by E.J. Abbott as an emergency water supply for the Hillsborough Mills in Pine Valley. It was used for ice skating during the former Winter Carnivals.

“This project is ‘shovel ready’ and a shared resource,” Beck said.

“This is something for you to think about,” she told the Board. “We are missing some (financial) opportunities” that can be addressed by being more aggressive and “more strategic in the way we operate.”