Credit: LevittownNow.com
The Bristol Borough School District Board of Directors voted on Thursday night to grant Local Economic Revitalization Tax Assistance (LERTA) to the developers of the Mill Run project.
LERTA, which the borough council approved in July, allows the developers of the property – Dallas Properties LLC and Healthcare Stat Homecare – to exempt the value of improvements to the property from local taxes. The tax rule indicates that the property owners must pay a local tax, but that the tax will not change based on improvements to the property, according to ppta.net. The hope, in skirted taxes, is that property owners may take money saved from the local taxes, and further improve the property.
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Support for the movement was voiced by residents of the borough who live near the abandoned Mill Run building during the public participation segment of the meeting before the vote.
John D’Angelo, the president of the board of directors, along with Kelly Cochran, David Chichilliti, Steve Cullen, Ralph DiGuisseppe III, Jeff Paleafco, and John Doyle voted to allow the developers LERTA. Charles Groff and Mary Jane Potena-Paglione were not present to vote.
The vote represents another step towards the proposed resurrection for the long vacant Mill Run property. The Bucks County Commissioner this Wednesday are expected to vote on whether the developers will be granted LERTA.
