CREW LV and LVEDC Explore TIF Financing

10C — May 13 - 26, 2016 — Pennsylvania — Mid Atlantic Real Estate Journal
www.marejournal.com
Commercial Real Estate Women
Lehigh Valley Chapter
www.crewlehighvalley.org
2016 Lehigh Valley
Board of Directors
President
Pamela Morris
Liberty Property Trust
President Elect
Kristin Holmes
Holmes Cunningham Engineering
Past President
Adrienne Kwiatek-Holub
National Penn Bank
Secretary
Marie McConnell
Fitzpatrick Lentz &,Bubba, PC
Corresponding Secretary
Sandy Kuhns
K&H Custom Window Treatments
Treasurer
Jennifer Keat
Tubiello-Harr & Associates
Directors at Large
Julie Macomb
Norris McLaughlin & Marcus, PA
Tina Roseberry
City of Easton
Commitee Chairs
& Co-Chairs
Membership
Betsy Shamberger
Moonstone environmental
Connie Hasara
Mohawk Group
Publicity
Julie Profilet-Saucier
Spillman Farmer Architects
Betsy Storey-Bono
Concannon Miller & Co., PC
Community Service
Jody King
CBRE, Inc.
Casey Noble
Liberty Property Trust
Programs
Jennifer Kennedy- DDP
Roofing Services, Inc.
Pamela Sullivan
National Office Furniture
DeAna Susinskas
ESSA Bank & Trust
Foundation Chair
Annie Osika
Lafayette Ambassador Bank
Delegates
Kristin Homes
Holmes Cunningham Engineering
Kelly Berfield
Colliers International
For membership
information contact:
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CREW LV AND LVEDC EXPLORE TIF FINANCING
W
EISENBERG
TOWNSHIP, LEHIGH COUNTY,
PA — Commercial Real Estate Women of the Lehigh
Valley (CREW LV) and Lehigh
Valley Economic Development Corporation (LVEDC)
presented a joint program on
the successful implementation
of a Tax Increment Financing (TIF) district in Lehigh
County to fund infrastructure
improvements required by
industrial development. More
than 80 members and guests
of the two organizations gathered at the historic Glassbern
Country Inn.
Pennsylvania created Tax
Increment Financing as a
development tool, allowing
taxing bodies to use a portion
of the additional tax revenue
generated by a development
to aid in the infrastructure
needed to make that development happen.
Cindy McDonnell Feinberg,
a principal of Feinberg Realty
Advisors who formerly served
as the Lehigh County Director
of Community and Economic
Development, moderated the
event which recounted how
a public-private partnership
upgraded an intersection of I
78 to enhance the ramps, is replacing a functionally obsolete
bridge, and expanded the capacity of a wastewater system
that serves the community
and a local school district.
Glassbern Country Inn
Cindy McDonnell Feinberg
moderated the event.
The project evolved as Hillwood Investment Co., a Perot Co., became interested in
developing 230 acres of West
Hills Industrial Park located
in Weisenberg Twp. at exit 45
of I-78. To gain the public improvements required, Lehigh
County, Weisenberg Twp. and
Northwestern Lehigh School
District in 2011 agreed to
defer 50% of the new tax revenue generated by Hillwood’s
development of five industrial
buildings for a 20 year term.
Bonds were issued to pay for
Chris Fenel, Hillwood Director of Development; John Kingsley, V.P.
of Finance, LVEDC; Dr, Mary Anne Wright, Superintendent, Northwestern Lehigh School District; Leslie Frisbie, Business Manager,
Northwestern Lehigh School District and Michael Rebert, PennDOT
District 5 Executive.
West Hills Business Center will
be six buildings at project buildout.
the improvements; half of the
new tax revenue resulting from
the 2.4 million s/f development
secured the bonds, Dr. Mary
Anne Wright Superintendent,
Northwestern Lehigh School
District, noted that the district
immediately benefited from the
waste-water system upgrades
and is now realizing $750,000
annually in real estate taxes
on a site that formerly yielded
A new bridge with improved
clearances is being manufactured
off site in modular faction for a
replacement project that will take
place this summer; roadway improvements involved new turning
lanes and access lanes.
only $13,000 per year. Additionally, the district has received $720,000 in real estate
transfer taxes as each building
has been developed
Other speakers included
Chris Fencel, Director of
Development for Hillwood,
Michael Rebert , PennDOT
District 5 Executive; and John
Kingsley Vice President of
Finance, LVEDC. n
SPONSORS
GOLD
Norris McLaughlin & Marcus • Fitzpatrick Lentz & Bubba
Liberty Property Trust • National Penn Bank• PennCap Properties
Servpro of Easton, Bethlehem & Whitehall • Concannon Miller
PATRON
NorthStar Management • Boyle Construction • NAI Summit
Newmark Grubb • Environmental Consultation Services
CONTRIBUTORS
Campbell Rappold & Yurasits • Buckno Lisicky & Co • Lafayette Bank
Spillman Farmer Architects • People’s Security Bank & Trust • Colliers International
FRIENDS
JG Petrucci • HMK Insurance • DesignPoint • The Frederick Group
Tubiello-Harr & Associates• Barry Isett & Associates • Falcon Engineering LLC
Langan Engineering• Feinberg Real Estate Advisors • MKSD • IMC Constuction
www.marejournal.com
www.marejournal.com
id Atlantic Real Estate Journal — Pennsylvania — May 13 - 26, 2016 — 11C
Mid AtlAntic RealM
Estate
Journal — Pennsylvania — January 15 - 28, 2016 — Inside Back Cover C
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phone 610-807-9670 • fax 610-691-0212
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12C — March 13 - 26, 2015 — Pennsylvania — 1-(%80%28-' Real Estate Journal
the Mid Atlantic Real Estate Journal
Please Contact: Alissa, PA Publisher
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notes the generosity of members she
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in organizing events
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to benefit a variety of causes.
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Betsyinform embers
@moo ation co hip
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SEHO
Here’s the most inexpensive and result driven
way to keep your name in front of the industry.
We do the mailing and you go along for the ride.
Reach thousands with yourbusiness card every month for only pennies.
Enclosed is my business card to run on the CREW Lehigh Valley Chapter page for the next twelve months (12 insertions).
I understand the cost is $1200.00 $500.00 for the year and that you will bill me.
Name: _____________________________________________________________________________________________________
Company: __________________________________________________________________________________________________
Address: ___________________________________________________________________________________________________
City: ________________ State: _____________________________________________________ Zip: _____________________
Phone: _______________________________________________________ Fax: ________________________________________
-DC
[email protected] or call: Alissa at: 781-871-5298 ext. 211
Mail to: Alissa Aronson, 312 Market St., Rockland, MA 02370
www.
marej
ourn
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