Crawford County commissioners have postponed taking action on a proposed property tax break for a planned Cochranton apartment complex for low-income senior citizens.
At their meeting Wednesday, commissioners voted to table action on granting a Local Economic Revitalization Tax Assistance designation for the proposed Adams Place housing project.
Commissioners tabled action at the request of Zach Norwood, county planning director, as the county and Cochranton must finalize several items, Norwood informed commissioners.
Commissioners have said they are in favor of the project but haven't finalized the length of the tax break — whether it will be five or 10 years.
Adams Place is a proposed $12.3 million project for a three-story, 39-unit apartment complex by Hudson Companies of Hermitage. It would be built on a 1.7-acre vacant site on North Franklin Street on the north side of the borough.
The vacant land is owned by the Economic Progress Alliance of Crawford County.
Under the LERTA, the break on property taxes would only be on any improvements on the land for a given time period.
For a five-year LERTA, there would be no additional taxes collected the first year and then rise in 20 percent increments until the full rate is collected in the sixth year. For a 10-year LERTA, it would be 10 percent increments until the full rate is collected in the 11th year.
Similar tax breaks on school and municipal property taxes would have to be applied for and approved separately by Crawford Central School District and Cochranton Borough Council, respectively.
Cochranton Borough Council went on record in support of the project when it was first proposed by Hudson in September 2017.
In July of this year, Adams Place was one of 39 affordable multifamily housing developments across the state awarded tax credits by the Pennsylvania Housing Finance Agency totaling $41.6 million.
Construction on Adams Place is expected to start in the spring of 2020 with occupancy in the spring or summer of 2021, according to a Hudson Companies spokeswoman.
Keith Gushard can be reached at 724-6370 or by email at email@example.com.