Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Eastern York SD board approves amendment to LERDA tax-abatement for redeveloped property
Summary
Board voted to amend a 2021 Local Economic Revitalization Tax Assistance (LERDA) agreement so the abatement schedule begins in the current completed year, reducing the district's near-term tax receipts by about $78,000 over the remaining abatement period, district staff said.
District finance staff reviewed a proposed amendment to a 2021 Local Economic Revitalization Tax Assistance (LERDA) agreement and the board approved the amendment after discussion.
A staff member explained the original LERDA agreement tied an 80% tax abatement to the first year of completion, 60% to the second year, 40% to the third and 20% to the fourth. The property owner did not complete the redevelopment within the original three-year completion window; the property…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
