Reading Fighting Hard For Redevelopment Designation

Map of Pennsylvania highlighting Berks County (Photo credit: Wikipedia)

Mayor Vaughn D. Spencer said his staff knew they were in for a fight if they were going to beat out other Pennsylvania cities for two City Revitalization and Improvement Zone designations.

Today, Spencer said an application for the designation had been submitted and it was time to take the gloves off.

“It was a Herculean task from the start,” Spencer told a gathering in the former Citizens Bank building near the corner of Fifth and Penn streets.

Guidelines for the grants were issued Oct. 31, leaving only weeks to select an authority to oversee the CRIZ program; chose the 129 acres comprising 260 parcels; draw up a redevelopment strategy for the zone; and draft an application. The designation will allow the authority to take state and local taxes generated by properties in the zone and reinvest them in properties in the zone.

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New Reading Authority Racing To Meet Deadline For State CRIZ Application

Map of Pennsylvania highlighting Berks County (Photo credit: Wikipedia)

At its second meeting in as many days, the newly formed City of Reading Revitalization and Improvement Zone Authority continued racing a Nov. 30 deadline to apply for a state CRIZ designation.

“If we win, I hope the new zone will create jobs to help stimulate our economy and the community’s growth,” said Mike Toledo, director of the Daniel Torres Hispanic Center and authority treasurer.

The CRIZ program was created by recent state legislation to provide economic development and job creation within a city. Only two Pennsylvania third-class cities will receive that zone designation in 2013. Other candidates are Allentown, Bethlehem, Altoona, Wilkes-Barre, Chester, Erie, Lancaster and York.

Read more: http://readingeagle.com/article.aspx?id=519889