Monroe Council starts LERTA process and asks solicitor to draft tax-forgiveness ordinance

Monroe Borough Council on July 15 began the formal process to consider tax incentives for redevelopment and asked the solicitor to prepare a draft tax-forgiveness ordinance.

The council voted to instruct the Planning Commission to identify “deteriorated” areas that could be eligible for a Local Economic Revitalization Tax Assistance program, commonly called LERTA, and voted to authorize the solicitor to finalize drafting of a tax-forgiveness ordinance for council review. The council also heard staff explanations of how each program would operate and which taxing bodies must participate.

Why it matters: LERTA and a tax-forgiveness program are tools towns use to encourage private investment in blighted properties; if adopted, they could change property tax bills for redeveloped parcels and affect revenues received by the borough, the county and local school districts.

The solicitor summarized the LERTA process for the council and said it must begin with the Planning…