LVEDC and CREW Lehigh Valley to Host Event on Lehigh County TIF
By Colin McEvoy on March 30, 2016
The Lehigh Valley Economic Development Corporation (LVEDC) and Commercial Real Estate Women (CREW) of the Lehigh Valley will host a seminar and panel discussion this month highlighting the successful implementation of a Tax Increment Financing (TIF) district in Weisenberg Township, Lehigh County.
The seminar will be held Thursday, April 21 at the Glasbern Inn at 2141 Packhouse Road, Fogelsville, Pa. Registration will begin at 8 a.m., with the panel discussion starting at 8:30 a.m., and a networking session to run from 9:30 to 10 a.m.
The cost is $25 to attend. Visit the CREW Lehigh Valley website to register by April 15.. A continental breakfast will be served.
The panelists will discuss the motivation, strategy, incentives, and challenges behind choosing a TIF structure to accomplish a public-private partnership and bring commercial and industrial real estate development to the Lehigh Valley.
The panel discussion will be moderated by Cindy Feinberg, principal and co-founder of Feinberg Real Estate Advisors. Speakers will include:
- Gary Frederick, Senior Vice President of Development at the Hillwood Group
- John Kingsley, LVEDC Vice President of Finance
- Michael Rebert, PennDOT District 5 executive
- Dr. Mary Anne Wright, Northwestern Lehigh School District superintendent
The TIF in Weisenberg Township diverts 50 percent of newly-generated tax revenues to pay down debt service for the development. Base taxes that were already being paid before the TIF continue to be paid throughout the life of the district.
The TIF has provided for public infrastructure improvements at the site, including rebuilding a section of Route 863 in the township and the access ramps to and from Interstate 78, repairs to a functionally obsolete bridge over I-78, and the expansion and improvement of a wastewater plant.
LVEDC helped establish the TIF and administer it through the Lehigh County Industrial Development Authority (LCIDA). The TIF, which will last 20 years, was supported in 2011 by Lehigh County, Weisenberg Township, and the Northwestern Lehigh School District.
This seminar will be the second LVEDC Brokers & Developers Council event of the year. These events offer an opportunity to learn about a timely topic and discuss issues affecting those in the industry, followed by time afterwards for networking and further discussion.
The council is comprised of commercial and industrial real estate brokers, site selectors, developers, bankers, corporate real estate engineers, architects, construction professionals and those involved in the development and expansion of commercial and industrial business.
CREW of the Lehigh Valley is the premier commercial real estate network in northeast Pennsylvania recognized for professionalism, leadership, and expertise. The group’s mission is to advance the success of women in commercial real estate. It is committed to providing resources for professional development and serving as professional role models and mentors to young professionals.
Don Cunningham: Workers are Key to Business Locations
This column, written by LVEDC President and CEO Don Cunningham, originally appeared in Lehigh Valley Business on March 21, 2016. (Click here to read Cunningham’s previous colu[...]Continue to Next Page