Reading Authority Approves 250 Parcels For New Program

Map of Berks County, Pennsylvania, United Stat...

Map of Berks County, Pennsylvania, United States with township and municipal boundaries (Photo credit: Wikipedia)

The City of Reading Revitalization and Improvement Zone Authority – working fast to meet a Nov. 30 deadline – on Friday approved 250 parcels spread over 129 acres to be included in the zone.

At its next meeting Monday, the 10-member board will be asked to suggest three or four potential projects on three or four of those sites.

Board members said the projects are realistic but are not set in stone, and will be used as illustrations of how the state’s newest economic development program could help Reading.

That program, aimed at attracting new firms with new jobs, lets cities use the new state and local taxes the zones generate to finance property purchases, infrastructure projects, and even new buildings.

Read more: http://readingeagle.com/article.aspx?id=519968

Reading Revitalization And Improvement Zone Authority Holds First Meeting

Map of Pennsylvania highlighting Berks County

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

The newly formed City of Reading Revitalization and Improvement Zone Authority held its inaugural meeting Wednesday night to outline its agenda over the next week.

The authority will be working to identify a potential city revitalization and improvement zone.

The CRIZ program was created by recent state legislation. The state departments of Revenue, Community and Economic Development and the Governor’s Office of Budget administer the program.

A CRIZ zone is an area of up to 130 acres comprising parcels that will provide economic development and job creation within a city. All new state and local taxes collected within the CRIZ will be used to repay debt service to stimulate economic development projects within the zone.

Read more: http://readingeagle.com/article.aspx?id=519804