Luzerne County Council to Discuss Tax Program for Economic Development Project

February 12, 2018 - 9:21 am
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The Luzerne County Council on Tuesday is set to discuss the formation of a committee to study the possibility of a Tax  program for a major economic development project.

Robert Tamburro and his family development company want the program approved so they can proceed with an estimated $100 million commercial project at the 62 acre site of the former Valley Crest Nursing Home.

Under the program property owners must pay all real estate taxes on the new development. But instead of keeping those payments, the three taxing bodies — the school district, the county and local government — use the money to pay off a loan to fund the infrastructure work.

PennDot says a highway permit will not be issued for the development unless major traffic improvements are made to Route 315 and Kidder Street.
Tamburro estimates the traffic reconfiguration of the area would cost approximately $10 million.
 

 

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