Noontime Knowledge: LERTA AND TIF TAX PROGRAMS

The Forward Lawrence Chamber and Economic Alliance would like to welcome you to our Noontime Knowledge event on Thursday, July 11^th at the Western Central PA Electricians’ Training Center at 3891 Wilmington Road, Neshannock Township, PA, 16105. At this lunchtime event, running from 11:30AM - 1:00PM, we will be discussing the economic development benefits of both TIF financing as well as the LERTA tax abatement program.

LERTA (Local Economic Revitalization Tax Assistance) authorizes local taxing authorities including municipalities, school districts, and counties, to provide real estate tax exemptions resulting from permitted improvements that have rehabilitated a deteriorated commercial or residential property. Building permits and the LERTA application must be submitted concurrently for exemption and the applicant/property owner must be up to date on all real estate taxes on all properties.

Forward Lawrence has arranged for a TIF (Tax Increment Financing Guarantee Program) expert to join us to discuss this important development tool. TIF supports the economic welfare of designated areas through the Commonwealth designed to assist in the development, redevelopment, and revitalization of Brownfield and Greenfield sites.  TIF funding can help finance environmental projects, infrastructure development, and site development for businesses and local government.  The maximum funding per project is $5 million.

We look forward to seeing you there and answering any questions you may have.