The Monroe County commissioners approved a resolution giving a Stroud Township business a break on taxes for five years.

During their meeting on Nov. 19, Commissioner Chairman John Christy said the Local Economic Revitalization Tax Assistance resolution was for one lot only.

Robert Gress, the chief clerk, explained in an interview that the wooded lot in question is a vacant 24.13-acre property owned by 447 North LLC at 1887 Paradise Trail. It is part of Hayward Business Park LLC, which includes Hayward Laboratories Inc.

“They are looking to build a warehouse next to the existing building to consolidate operations from another area,” Gress said.

The plan includes the construction of a 200,000 square foot industrial storage facility and warehouse. They intend to construct the facility in two phases with a 100,000 square foot building in each phase.

According to the LERTA resolution, a property must be an industrial, commercial or business property located in a deteriorated area in order to be eligible for the tax assistance. Gress said this property meets the description because it is vacant.

The resolution states that the LERTA can be granted if an improvement is planned, which is defined as a “repair, construction, reconstruction, alterations, additions to increase the standards of safety, health, economic use or amenity.”

This LERTA resolution provides tax relief for five years and expires in 10 years.

“Per the LERTA, the taxes on the new construction will be: first year, 0%; second year, 20%; third year, 40%; fourth year, 60%; fifth year, 80%; and sixth year, 100%,” Gress said.

As for the amount of the tax relief in dollars, Gress said, “The value of the LERTA will depend on the actual building assessment when complete. The current taxes will remain to be paid.”

Before coming to the commissioners for a vote, the LERTA was approved by both Stoud Township and Stroudsburg Area School District, Gress said.