Monday, December 03, 2012

So What's Going On With the Chrin TIF?

A little over a year ago, a "TIF" was approved for a massive , 689-acre industrial park in Palmer Township owned by Charles Chrin. That's a special tax tool under which the owner will continue paying the same real estate taxes on the property for ten years. Municipalities lose nothing. But during this time, the owner can use the increases in the tax base, which results from construction, to finance additional improvements. In this case, Chrin is using the TIF savings to finance the costs of an Interchange at Route 33 in Tatamy.

So what's going on?

While Chrin continues work on the Interchange and excavation at the site, between 70-75% of the tract is now under agreement to several developers, I'm told.

It has been estimated that this development will bring 5,000 jobs to Northampton County. That's why Easton Mayor Sal Panto spoke in favor of the project. "[T]he first thing we need are jobs. Everywhere I go, people are asking me for work, and I feel really badly about them. A lot of people we put out of our jails are coming back in because they can't find work."

The sole Council member to vote against it was John Cusick.

1 comment:

Anonymous said...

This needs to happen soon, me and all my friends from Jersey are looking for new jobs and a place to relocate with lower tax rates(he said sarcastically).