Tamaqua Receives an Additional $608,561.39 for Revitalization
Due to the Borough of Tamaqua’s participation as a pilot for the CRIZ (Community Revitalization and Improvement Zone) program, funds totaling $608,561.39 ($581,156.17 plus the local portion of $27,405.22) will come back to the Tamaqua CRIZ Authority. These funds may now be reinvested into qualified projects utilizing properties located in the designated Tamaqua CRIZ.
The CRIZ program was established by Act 52 of 2013, and is administered by the Department of Revenue, the Department of Community and Economic Development and the Governor’s Budget Office. The CRIZ Act was amended by Act 43 of 2017, to not only create pilot zones, but also to provide that money transferred to a CRIZ fund for utilization in a pilot zone is not required to be returned to the Commonwealth and may be used for future projects. Tamaqua is fortunate to be the only Borough participating in the CRIZ pilot program. The only other two participants in the CRIZ program are the cities of Lancaster and Bethlehem.
The CRIZ is an area of up to 130 acres, comprised of parcels designated by the local CRIZ authority to capture state and local taxes for the purpose of improvement and development within the zone. CRIZ funding can be used for reimbursement of debt service, property acquisition, new construction and other costs related to development projects in the zone. The intent of the program is to revive downtown areas through new and existing businesses and to attract development, improve underutilized real estate and encourage local business expansion to create new jobs.
All qualified businesses, including construction contractors, within a CRIZ must complete annual state and local tax reports online by June 15th. The Department of Revenue and local tax authority then certify the amount of taxes to be transferred to the CRIZ fund. Qualified businesses that fail to timely submit complete CRIZ tax reports will be subject to a non-filing penalty from the State.
Monthly Tamaqua CRIZ Authority meetings are held on the first and the third Monday of each month at 6:00 p.m. at the Tamaqua Borough’s Council Chambers located at 320 E. Broad St. There is potential for the first meeting of the month to be cancelled. Call the Borough Office at 570.668.0300 to verify meeting dates and times.