Tamaqua will receive $2 million through the City Revitalization and Improvement program.

The announcement came from Secretary of Revenue Pat Browne, who said that this is money returned to the borough through the CRIZ program.

The program helps Pennsylvania municipalities that have faced economic challenges revitalize vacant or rundown spaces with the goal of attracting new businesses and creating jobs.

Tamaqua is one of three municipalities that will receive the returns based on the period from Jan. 1 to Dec. 31, 2024. In addition, Bethlehem will receive $2.05 million, and Lancaster will receive $12.1 million.

“Since its inception, the CRIZ program has delivered a total of nearly $102 million to participating communities, helping them to attract development, revitalize their downtowns and bring new jobs to their regions,” Browne said. “This program is a proven model that has been a critical tool for growth in Bethlehem, Lancaster and Tamaqua.”

He noted that the program will be reopened so more communities can apply. Erie and Reading are now part of the CRIZ program.

A CRIZ is an area of up to 130 acres, comprised of parcels designated by an authority to capture state and local taxes for the purpose of improvement and development in the designated CRIZ zone.

The program is similar to a tax incremental financing program.

It is structured to protect the existing state and local tax base, while providing incremental funding for tax revenues based on new growth generated over and above an established baseline per business and new tax.

The funds are paid to the local development authority for the zone, and can be used for debt service, property acquisition, new construction and other costs related to development projects in the zone.

The CRIZ program is administered by the Department of Revenue, the Department of Community and Economic Development and the Governor’s Budget Office.