EMMAUS, Pa. — Emmaus on Monday tabled tax relief measures for developers seeking to redevelop blighted former industrial land in Emmaus following a rewrite.
The new bill will be re-advertised and reintroduced at a future meeting.
The Local Economic Revitalization Tax Assistance Abatement, or LERTA, ordinance would grant a developer's request for assistance in transforming the borough's "blighted" property at 300 Furnace St. based on an existing state provision.
Rewrites of the bill were prompted following discussions at July borough council meeting,where council members approved a sunset provision that would require the bill to be approved every five years.
The final bill settled on creating opportunity zones considered "economically distressed."
Projects in those zones would have real estate taxes forgiven, then slowly reintroduced over a maximum period of 10 years for property owners who apply and are approved.
"It has definitely been labeled in many public documents as our number one blighted property in the borough."Borough Manager Shane Pepe
It can apply to the repair, construction or reconstruction that attains higher standards of safety, health, and economic use or brings it into compliance with laws governing such standards.
Only the improvement part of the development would be eligible.
Eligible properties would be non-residential buildings that have been subject to an order by a government agency requiring the unit to be vacated, condemned or demolished.
If passed and the property is approved for the program, only a gradually increasing part of taxes will be paid on the property's real estate value in addition to an annual flat fee for five years to incentivize development.
According to the borough, the 300 Furnace St. former foundry site has been left unused since 1995 and faces environmental contamination issues while being functionally obsolete.
"It has definitely been labeled in many public documents as our number one blighted property in the borough," Borough Manager Shane Pepe said in July.
Westrum Development Company illustrated its plan to convert a vacant lot at 300 Furnace St. into 144 apartments across four buildings in a June presentation to council.
The complex would consist of 80 one-bedroom and 64 two-bedroom units with 317 parking spaces on the 8-acre parcel.
