Proposed warehouse in Cumru will get OK for tax abatement

READING, Pa. – As half its on-the-road assembly collection, the Berks County Board of Commissioners was welcomed by the borough of Hamburg Thursday evening, with their weekly assembly happening at Hamburg Excessive Faculty.

The commissioners started the on-the-road conferences within the latter portion of 2021 with conferences happening within the borough of Wyomissing after which later at Muhlenberg Township.

Hamburg Mayor George Holmes welcomed the commissioners and provided a short overview of the historical past of the borough, in addition to its persevering with financial growth.

In the course of the board’s common agenda, the commissioners authorised a tax abatement program for a warehouse proposed to be constructed close to Route 10 and Valley Stream Highway in Cumru Township.

Keith Mooney, an lawyer representing the developer, Northpoint LLC, mentioned his shopper plans to assemble a 650,000-square-foot warehouse at a value of between $49 million and $55 million.

The Native Financial Revitalization Tax Help program, or LERTA, permits taxing entities to just accept a gradual 10-year tax abatement on any new enhancements.

Christian Y. Leinbach, chair of the commissioners, mentioned the proposed growth is anticipated to create 360 jobs and can usher in not less than $1.5 million in new tax income to the county over the subsequent decade.

“I’ll notice one factor, and that’s LERTA is totally different from nearly every other tax incentive program on the market,” Leinbach mentioned. “Regardless of the taxes are on the property earlier than an enchancment, they should proceed to be paid. Which means if a developer will get a LERTA and by no means builds something, they get no profit from it, and that is what makes it so useful.”

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Leinbach mentioned a LERTA is important to financial growth as a result of many tasks would by no means happen with out one.

The Cumru Township commissioners and the Governor Mifflin Faculty Board have already authorised the LERTA for the proposed growth.