Tuesday, May 14, 2013
The East Penn Board of School Directors Monday night approved a tax increment financing plan that could bring the Lehigh Valley its first Costco in 2014 and eventually bring East Penn $1.5 million a year in tax revenue.
After a lengthy discussion and two failed attempts to table the decision, the East Penn Board of School Directors Monday night approved a financing plan that could bring the Lehigh Valley its first Costco as soon as fall of 2014 and ultimately put an estimated $1.5 million per year into the school district's bank account. The plan approved by the board to help fund the proposed $140 million Hamilton Crossings shopping mall in Lower Macungie Township is what is known as Tax Increment Financing or TIF. Basically, a TIF is an economic tool to help develop a site that requires a large amount of money to pay up-front costs. In this case, the land – 63 acres off of Krocks Road between Hamilton Boulevard and the Route 222 bypass – needs …
Sunday, May 12, 2013
The East Penn Board of School Directors is expected to consider its involvement in the proposed TIF financing for the Hamilton Crossings project at Monday night's school board meeting.
Thursday, May 9, 2013
What's happening with the proposed Hamilton Crossings shopping center that will feature the Lehigh Valley's first Costco store?
The $140 million Hamilton Crossings shopping center in Lower Macungie—set to feature the area's first Costco—will be up for an important vote at next week's East Penn School Board meeting, according to a WFMZ report. The school board will be the first of three government bodies asked to approve a Tax Increment Financing (TIF) plan to help pay for the project. A TIF is an economic tool to help develop a site that requires a large amount of money to pay up-front costs. In this case, the costs involve removing waste from iron mining and addressing stormwater issues before the land can be developed. Ideally, the school district, Lower Macungie Township and Lehigh County will each approve their portion of the TIF. The school board meets Monday …
Monday, November 19, 2012
Developers looking to build Hamilton Crossings in Lower Macungie -- which will feature the area's first Costco -- are seeking some zoning variances from the township.
If all goes well, the developers of Hamilton Crossings in Lower Macungie hope to break ground a year from now on the 63-acre shopping center that will include the area's first Costco. Last week, representatives of The Goldenberg Group based in Blue Bell showed Lower Macungie Township commissioners several renderings of their plans for the shopping center proposed for land between Hamilton Boulevard and the Route 222 Bypass. Krocks Road runs through the middle of it. Most of the land is open space owned by the Catholic Diocese of Allentown. The developers are seeking several variances to township zoning laws that deal with regulations about such aspects as the height of fencing and the size of buffers. While showing the renderings, Jeremy …
Saturday, September 22, 2012
Plans for the Hamilton Crossings Shopping Center in Lower Mac are being updated while developers put funding in place.
Costco got one step closer to being our neighbor at the Thursday meeting of the Lower Macungie Township Board of Commissioners. Granted, it was a very small step, however. Commissioners heard from John Kingsley of the Lehigh County Industrial Development Authority regarding Tax Increment Financing, or TIF, that can be put into place to help fund the project. A TIF is an economic tool that provides money for development of a site that requires a large amount of money to pay upfront costs. In this case the costs involve mine wash remediation and addressing stormwater issues before it can be developed. Ideally the township, East Penn School District and Lehigh County will jointly agree to their parts in the TIF. Jeremy Fogel of the Plymouth …
Saturday, July 14, 2012
Costco Wholesale Corp. confirmed with Lower Macungie Township officials as a proposed tenant for the Hamilton Crossings in Wescosville just days ago.
Costco Wholesale Corp., the Issaquah, Wash.-based purveyor of discounts on everything from daycare items to caskets, is confirmed as a proposed tenant for the Hamilton Crossings shopping center under construction along Hamilton Boulevard in Wescosville. In responding to a Patch story published on Friday morning, Sara Pandl, director of Planning and Community Development for Lower Macungie Township, said Costco's confirmation was announced at the July 10 meeting of the Planning Commission. Jeremy Fogel, of the Goldenberg Group made the announcement, she said. Plans for the shopping center have run into a few snags lately due to debris found in the remains of underground mines, but the Goldenberg Group presented its ideas for remediation …