PCIDA Adopts an Amended Uniform Tax Exemption Policy at its November meeting
At its November 10, 2021 meeting the IDA Board accepted amendments to its Uniform Tax Exemption Policy (UTEP).
During the meeting Chairman Frank Ferrara recalled that there were 3 broad reasons the Board undertook this amendment process: simplification of benefit structure, defining a more stringent process for a 20 year real property tax abatement, and improving the manner in which the document imparts PCIDA process to the public and the development community.
He thanked the Board for its hard work, the expertise of Camoin Associates and Storrs Associates for guiding the process, Administrative Director Christopher Steers for his invaluable input, and the public at large, who submitted pointed critiques that the Board duly considered, all of which have made for a better governing document.