The first of three taxing bodies has approved the Local Economic Revitalization Tax Assistance program (LERTA).
Mayor Joe Schember stated that he believes that a large reason erie city council approved this was due to the addition of the Community Reinvestment Fund.
This fund will look to assist in neighborhood revitalization and to help low income families. There will be three sources of funding for this program which includes a yearly donation from the Department of Economic and Community Development , LERTA application fees and community donations. The mayor announced that he will personally donate five thousand dollars to this fund and hopes others will follow in his footsteps. “We have about 100 thousand people if we average about ten dollars per person we’ll have a million dollars a year,” said Mayor Schember.
In order to get the LERTA fully in motion it must be approved by County Council and the Erie School Board. Both of the tax paying entities are working to plan a special session regarding the proposed tax program within the next couple of weeks.