At the July 2, 2020, Zoom meeting of the Economic Development Committee (EDC), members Karen Miller, co-president of the Newtown Business Commons Association, and Joseph Blackburn, an Associate with Wisler Pearlstine, proposed ways that the township can revitalize the Newtown Business Commons, which is zoned for light industrial and office use. This is especially important after COVID-19 restrictions are lifted and businesses get up and running again but find that more workers can work at home and they no longer need as much office space.
One specific suggestion was to apply under the Local Economic Revitalization Tax Assistance Act (LERTA Definition) to lower real estate taxes for businesses in the Commons. Other local municipalities are using this tool to revitalize their business districts (read, for example, "Northampton Extends LERTA Tax Break Program for Businesses").
Listen to this 11.5 minute audio snippet for the details: https://bit.ly/ntLERTA
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