Many communities are dealing with the financial challenge of paying for an increase in the need for basic services, while there’s little or no growth in their tax revenue base.
One Centre County community is hoping a program, that’s proved to be successful elsewhere, will bring new development to town.
Gary Sinderson explains.
“We have a very small geographic footprint, the tax base is not growing much, we have a lot of older properties, buildings that are in need of improvements”
Bellefonte Borough Manager Ralph Stewart describing whats common in many older towns and communities. Bellefonte does have a lot of history though
“Essentially Bellefonte like many communities, have built out as much as they can, the only thing we can do is figure out how we can revitalize, rejuvenate and upgrade the facilities”
Bellefonte and Centre County administrators Tuesday talking about the proposed adoption of whats known as the LERTA Program Local Economic Revitalization Tax Assistance. Its a tax abatement program a financial incentive for developers in rehabbing, or new construction
One project, we’ve been telling you about the Bellfonte Waterfront project along Spring Creek looks to finally become a reality after more than a decade of planning. A hotel, parking garage, and condominiums all planned.
The developer endorsing LERTA, saying it will help in creating new jobs and business
“There are a lot of people who want to come to Bellefonte to live. some of those may be second home owners who will retire here.but the important thin is there’s interest a lot of interest”
Close to 200 new jobs are projected for the Bellefonte Waterfront project, with groundbreaking expected later this year.
