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Commissioners approve 10-year LERDA tax-exemption for Holly Ridge project after divided debate
Summary
The board approved a 10-year Local Economic Revitalization Tax Assistance (LERDA) exemption for the Holly Ridge redevelopment in Old Forge amid debate about prior TIF designation and the Old Forge School District’s lack of approval; one commissioner voted no citing precedent and outstanding litigation concerns.
The Lackawanna County Board of Commissioners voted on Nov. 19 to grant a 10-year tax-exemption schedule under the Local Economic Revitalization Tax Assistance (LERDA) Act for the Holly Ridge redevelopment (approximately 23–23.5 acres in Old Forge). The ordinance sets a decade-long schedule of exemptions (100% in years 1–2, tapering to 50% in year 10) intended to encourage new construction and investment on a long-idle former mining site.
Attorney Fred Rinaldi and project counsel described Holly Ridge as a multi-phase, multifamily redevelopment expected to require a multimillion-dollar investment (counsel estimated it…
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