A top issue for Mayor Joe Schember’s Administration is one step closer to realization.
A tentative deal on the expansion of the LERTA (Local Economic Revitalization Tax Assistance Act)program is moving forward. The new deal, which would need approval between the three taxing authorities, would give commercial development and residential a 100% tax abatement from the city and county, as well as an 80% break from the school district.
The 10-year-plan could go into effect as early as May, pending approval from City Council, County Council, and the Erie School District.
The mayor believes passage of the program would bring new development to the city and eventually the tax base.
Schember says the “more people living in Erie, [the] more people working in Erie because of the construction that goes on will create jobs. I really think this is very important in terms of transforming our city and turning around our decline which has been going on since 1960.”
If passed, the expansion could have a major impact on areas like the bayfront and the Erie Shcool District.