Published February 04. 2015 04:00PM
The City Revitalization and Improvement Zone is a special designation which provides third-class cities with a chance to improve and develop targeted areas.
It was created by the state as Act 52 of 2013.A CRIZ is an area of up to 130 acres, consisting of parcels designated by a contracting authority, which will provide economic development and job creation within a political subdivision such as Tamaqua.State and local taxes collected within the CRIZ are used to repay debt service to stimulate economic development projects within the CRIZ.The CRIZ Program also permits one pilot zone to be designated.A pilot zone is designated by a contracting authority within a township or borough with a population of at least 7,000 based on the most recent federal decennial census. Tamaqua met those requirements.The Pennsylvania Department of Revenue, the Pennsylvania Department of Community and Economic Development and the Governor's Office of Budget are tasked with administration of the CRIZ Program.Tamaqua has become the first small town in Pennsylvania, and only the third municipality, to be awarded the program.
DONALD R. SERFASS/TIMES NEWS Tamaqua has 128.5 acres now designated a CRIZ zone, allowing for some of the town's tax dollars to be returned to nurture growth and, town leaders hope, spawn new jobs.