Last week, I told you that Easton is seeking approval from Northampton County for a real estate tax break for nine different tax parcels. Under this tax incentive, the owner continues to pay real estate taxes on the property. But once there is an increase in assessment as a result of improvements made, the additional tax due is phased in over a period of 10 years. This has already been approved by Easton and its school district. County Council will vote on this proposal at their next meeting.
I am philosophically opposed to most tax incentives, event modest breaks that come about from a LERTA. Even I would support one aimed at redeveloping a brownfield or improving blighted property in our urban core. Executive Lamont McClure said the LERTA has "110% support" from the county administration. Easton Director of Community and Economic Development John Kingsley described the nine tracts as follows:
1-6 Center Square: This blighted property will be redeveloped into a seven-story hotel with a conference facility and two restaurants at a cost of $25 million on a parcel currently assessed at $200,000. It is expected to create at least 30 FTE jobs. Construction would be complete by December 2025.
8 Center Square: This is the former National Bank building and has been vacant over five years. It will be redeveloped into a five-story building with two restaurants and seven apartments at a cost of $3.4 million for a parcel currently assessed at $98,100. The restaurants will create 15 new jobs.
508 West Canal Street (Southside): This is the old Paradise Club, and was acquired by Shiloh Baptist Church for 60 units of affordable housing for tenants between 20-80% of area median housing. The tract is currently assessed at $76,500. Construction is expected to begin in 2025 and will take 18 months.
130-134 Phillips Street and Charles Street (Southside): These properties are in the process of being acquired by Greater Shiloh Church for eight owner-occupied affordable housing units. Each will be three-bedroom homes. he project will cost $2.5 million for property assessed at $81,300. The county has already awarded a $100,000 grant for this project. Eligible owners will be at or below 80% area median income.
653-671 Bushkill Street (West Ward): These properties (former Circle Systems) will be redeveloped into office and manufacturing micro-enterprises. The tract is assessed at $115,000, and $1.5 million in construction is contemplated. The ground floor will include 3-D printing, metal shop, laser cutting and loading docks. This is expected to be ready by Fall 2025.
Kingsley projects that real estate taxes will increase by a factor of 10 once the LERTA expires. He indicated that both the areas inside the city and the proposed uses make these projects attractive.
12 comments:
With all the developer interest in Northampton County there is no need for any more tax breaks. Stop it. If a homeowner improves their property, they get Zero tax breaks for ten years and reassessed immediately. So, a big no to this developer handout. Brownfields means nothing anymore in this county. This is just another handout to a connected few.
McClure loves this as Easton has votes and the developer has money. So, if McClure loves it, you love it.
BernieOHare, there is a LERTA IN Easton for 82 properties, many of which are residential. So you are pretty much full of shit. This LERTA expansion is in an than core, addresses deterioratinh’g buildings, creates jobs and builds badly needed affordable houding
1-6 Center Square: blighted property - REALLY? Just because it's empty now doesn't make it blighted. Developer Welfare! Needs to end!
So Easton is doing so well that it needs more “affordable housing” (which is actually low income housing)? And the county government should subsidize more low-income housing for a city that’s already on the wrong side of the poverty statistics in the county?
Let’s get real.
You didn’t give specifics on the one “affordable housing” project, but mention the other will cost $2.5 million for eight units. My simple math tells me that means each unit will cost $312,500, which doesn’t really sound too affordable (at least for the taxpayers). Should taxpayers really be subsidizing $300,000+ dollar homes? Of course not!
I’m sure the other affordable housing project is similarly inflated; and the commercial projects listed are just subsidizing the profits for the politically-connected.
Do the rest of the taxpayers get to hold back on their tax increases when they improve their properties? Not only do they not get a tax break, but they end up paying for idiotic tax breaks like this.
County Council should turn ALL of these down.
I have a question??? Why if I work for northampton County but live outside the city of easton, easton doesn't give me my tax return for the money I'm entitled to because I don't pay that tax rate. I asked the county and they say they have to pay easton tax rate because I work in easton. But they ( the city of easton)doesn't give me my tax rate for where I live and lose out on money. Now this city wants more tax breaks from the county but they steal money from county employees. Don't give them anything. I know Lamont don't care because he doesn't give two sh-ts about county employees. But it isn't right. If the city is hurting that bad cancel festivals, fireworks, make cuts like county employees have to because we get screwed out of hundreds, if not hundreds of thousands of dollars if you add up all employees.
Developer Welfare! Needs to end! And they need to start paying their fair share of taxes.
The other part about this that is unfair is that unlike the city and school district, who will collect earned income tax from any new employees or residents, the county only has the property tax to raise revenue.
So the county is being asked to give up the increase on its only revenue stream, while the city and school district have the EIT to backfill any lost property tax revenues (on the increased value).
Just another reason for county council to say “no”.
If you’re going to approve a LERTA for one taxpayer, it should be done for all the taxpayers in Easton. Anything else is unfair.
it was approved for just about the entire city of easton years ago about 900+ properties. How many o these home owners do you think even used this? shut your pie hole with your nonsense and get educated before you type
10:03 - Then what’s the issue? If it’s already been approved for everyone, they’d need no approval for these properties again, right?
Maybe it’s time that you got educated.
And how many people would take advantage of it isn’t the point. It’s that the opportunity is there for all, fair and equal. That’s the way government should operate.
agree with poster about Easton. The county is in high demand no need to subsidize developers. The city's location to New York and Jersey means if this guy doesn't build someone else will. WE have far too many unaffordable apartments already.
Lower everyone's taxes. This is government picking winners and those winners are developers, predictably. The cost per unit is very high. The math on LERTAs and their ilk NEVER works. NEVER. A chosen few are getting paid with your money. These schemes are the epitome of poor government.
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