Credit: Tom Sofield/LevittownNow.com
The Bucks County Housing Authority and the Bristol Township School District have entered into an agreement that will give the school system $2.5 million.
Late last month, the school board approved a payment in lieu of taxes agreement (PILOT agreement) for the Bucks County Housing Authority-owned Venice Ashby community, which sends about 250 kids to the district’s schools. The housing authority agreed to pay the school district $250,000 a year for ten years commencing July 1 and ending on June 30, 2029.
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While the district brings in little revenue for the 250 students it educates from the neighborhood due to tax exemptions, the PILOT agreement is designed to offer some funding from the Bucks County Housing Authority to support the district.
Bucks County Commissioner Chairman Robert Loughery, who was on hand for the agreement being voted on by the school board, said the housing authority was in a “strong position financially” and that is why they could make the deal with the district.
The funds received by the district through the PILOT agreement can be put toward the general fund and does not have to dedicated for any specific program, school board solicitor David Truelove said.
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The Bucks County Housing Authority owns 9,000 living units for low income individuals and families throughout the county. It was originally formed during World War II to support housing for workers making products for the war effort in Bristol Township and Warminster.
