Council officials say they want to see the LERTA program continue in order to spur the much needed development in the city, but at the same time, the city must generate as much tax revenue as possible.
LERTA is a city-wide program to provide incentive for development within the community. It offers residential and business owners 10 years tax free for new construction in Erie, but it expires in November.
City officials feel it's been a successful program, and now they're trying to find ways to keep it going, but maybe tweak it a bit.
One of the Mayor's ideas is to target areas for the tax break instead of keeping it a city-wide initiative.
City Council has spent time researching other cities and their LERTA programs. They're currently exploring various options to refine the tax incentive ordinance. Some of these options include changing the number of years for the tax break for certain areas in the city.
Mayor Sinnott will present his proposal for the future of LERTA at a City Council study session, Thursday.