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

Reading Revitalization And Improvement Zone Authority Holds First Meeting

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