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.