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Agency recommends developer negotiate tax‑pilot after consultants flag standard‑tax infeasibility
Summary
The board approved PLRDA‑26‑02 recommending the developer negotiate a financial/pilot agreement with the bureau after board consultants advised the project was not feasible under conventional taxation; vote recorded with one abstention.
At the meeting the board adopted a second resolution (PLRDA‑26‑02) asking that the redeveloper pursue a negotiated financial agreement with the bureau to secure tax‑pilot terms. Agency officials said consultants who reviewed the developer’s pro forma concluded the project "does not work under normal taxation," and the resolution records that professional opinion as the basis for recommending pursuit of a bureau negotiation.
Agency official summarized the consultants’ findings and said the resolution will be amended to state that the board’s professionals reviewed the materials and advised that conventional taxation would not make the project feasible. The board voted on the resolution; the clerk recorded the roll call as Miss Novak — Yes; Mister Cinke — Yes; Mister Lavasi — Abstain; Mister Presta — Yes; Catherine Vennon — Yes. The board said the recommendation does not itself create a tax agreement; it asks the developer to negotiate and to seek bureau approval for any tax‑exemption or pilot structure.
Board members said they want a follow‑up executive session for a fuller explanation of the financial review from the borough’s consultant and noted that council action and a separate ordinance revision will be required to implement any pilot or tax adjustment.
