[HISTORY:[1] Adopted by the Borough Council of the Borough of Perkasie as indicated in article histories. Amendments noted where applicable.]
[1]
Editor's Note: Former Ch. 50 was comprised of Art. I, 601 Spruce Street Investment Partners, LLC (Delbar) LERTA Program, adopted 4-2-2018 by Ord. No. 1012; and Art. II, Perkasie Borough Airport LERTA Program, adopted 4-2-2018 by Ord. No. 1013. Both ordinances contained a provision that stated they would become null and void unless the Pennridge School District Board of School Directors and the County Commissioners of the County of Bucks adopted similar resolutions or ordinances by 12-31-2018. Since no similar resolutions or ordinances were adopted by 12-31-2018, Arts. I and II were removed from the Code.
[Adopted 2-15-2021 by Ord. No. 1035]
This article shall be known and may be cited as "601 Spruce Street Investment Partners, LLC (Delbar) LERTA Program Ordinance."
The Borough hereby adopts this article pursuant to the Local Economic Revitalization Tax Assistance Act (LERTA), Pennsylvania Act No. 76 of 1977 (P.L. 237) December 1, 1977, 72 P.S. § 4722 et seq.
The Borough hereby designates approximately 3.747 acres, more or less, consisting of Bucks County Tax Parcel Nos. 33-005-036-001, 33-005-036-002, 33-005-094, and 33-005-107-001, as shown on the Tax Map attached hereto as Exhibit A,[1] hereinafter referred to as the "601 Spruce Street Investment Partners, LLC (Delbar) LERTA Tax Abatement District," in as much, inter alia, the premises are blighted industrial areas, and consist of underutilized land.
[1]
Editor's Note: Exhibit A is on file in the Borough offices.
As used in this article, the following words and phrases shall have the meanings set forth below:
ACT or LERTA
Local Economic Revitalization Tax Assistance Act of the Commonwealth, Act No. 1977-76, as amended.[1]
ASSESSED VALUATION
The value of a parcel of real property as established by the Office of Property Assessment of the County of Bucks for the purpose of the assessment and levy of real property upon which the building is located.
BOROUGH
Borough of Perkasie, Bucks County, Pennsylvania, acting by and through its Borough Council, or acting by and through its authorized representatives.
BOROUGH COUNCIL
The Borough Council of Perkasie Borough.
BUSINESS PROPERTY
A property or structure primarily used for business purposes, specifically excluding no-impact home-based businesses.
COMMONWEALTH
The Commonwealth of Pennsylvania.
COUNTY
County of Bucks, Pennsylvania, acting by and through its Board of County Commissioners, or acting by and through its authorized representatives.
DESIGNATED AREA
The area within the Borough identified in this article.
ELIGIBLE PROPERTY
Any industrial, commercial or other business property located in the designated area.
IMPROVEMENT
Repair, construction, or reconstruction, including alterations and additions, having the effect of rehabilitating any industrial, commercial or other business property owned by any individual, association or corporation and located in the designated area; "improvements" does not include any ordinary upkeep or maintenance.
LOCAL TAXING AUTHORITIES
The Borough of Perkasie, the County of Bucks, and the Pennridge School District.
PERSON
Any individual, partnership, company, association, society, trust, corporation, municipality, municipal authority, or other group or entity.
SCHOOL DISTRICT
Pennridge School District, Bucks County, Pennsylvania, acting by its Board of School Directors, or, in appropriate cases, acting by and through its authorized representatives.
[1]
Editor's Note: See 72 P.S. § 4722 et seq.
A. 
There is hereby exempted from all real estate property taxes that portion of additional assessment attributable to the actual costs of new construction or improvements to eligible property for which proper application has been made in accordance with this article.
B. 
The exemption authorized by this article shall be in accordance with the provisions and limitations hereinafter set forth.
C. 
The schedule of real property taxes to be exempted shall be in accordance with the following percentage of the assessed valuation of new construction or improvements to eligible property:
Tax Year(s) Following Completion of Construction
Exemption Portion of Assessed Valuation
1
100%
2
90%
3
80%
4
70%
5
60%
6
50%
7
40%
8
30%
9
20%
10
10%
D. 
A tax exemption granted under this article shall become effective for a ten-year period from the date of when a new separate assessment is made by the Board of Assessment Appeals. Furthermore, to approve Ordinance No. 1035, an ordinance of the Borough of Perkasie designating an area of the Borough in which new construction of industrial, commercial, or other business property and business property are eligible for a tax exemption pursuant to the Local Economic Revitalization Tax Assistance Act,[1] as amended; providing for an exemption on the assessment attributable to the actual cost of such new construction or improvements; and providing for the effectiveness of this article.
[1]
Editor's Note: See 72 P.S. § 4722 et seq.
E. 
A tax exemption granted under this article shall not terminate upon the sale or exchange of the property.
F. 
Any person who is an owner of eligible property and who desires tax exemption pursuant to this article shall apply in writing for such exemption on a form to be provided by the Borough at the principal office of the Borough, which must be received by the Borough within 60 days following the date of issuance of a building permit for any new construction or improvements.
G. 
The Borough shall make available to any person desiring to apply for a tax exemption in accordance with this article an application form (the application) which shall require such person to supply the following information:
(1) 
The name of the owner or owners of the eligible property;
(2) 
The location of the eligible property, including the tax parcel identification number assigned to such property for real property tax purposes;
(3) 
The type of new construction or improvements to be made on the eligible property;
(4) 
The nature of the improvements to be made on the eligible property;
(5) 
The date on which the relevant building permit was issued, the date on which construction commenced or the estimated date on which it shall commence;
(6) 
The cost or estimated cost of the new construction or improvements;
(7) 
Such additional information as the Borough may reasonably require.
H. 
The appropriate official of the Borough shall forward a copy of such completed application to the County and School District within 30 days following the date on which such application is filed.
I. 
The cost of new construction or improvements to be exempted and the schedule of taxes exempted at the time of an initial request for tax exemption made in accordance with the provisions of this article shall be applicable to that exemption request, and any subsequent amendment to this article, if any, shall not apply to applications filed with the Borough prior to their adoption.
The provisions of this article shall expire upon the 10th anniversary of its enactment, unless extended by ordinance duly adopted. Any property tax exemptions granted under the provisions of this article shall be permitted to continue according to the exemption schedule even if this article expires or is repealed.
In the event any provision, section, sentence, clause or part of this article shall be held to be invalid, such invalidity shall not affect or impair any remaining provision, section, sentence, clause or part of the article, it being intent of the Borough that such remainder shall be and shall remain in full force and effect.
This article shall become effective upon adoption by the Pennridge School District Board of School Directors and the County Commissioners of the County of Bucks by the adoption of resolutions consistent with the content of this article. If the Pennridge School District and County of Bucks have not adopted similar resolutions and/or ordinances by December 31, 2021, this article shall not become effective and shall be null and void. The provisions of this section shall take precedence over the provisions of § 50-6.
All ordinances or parts of ordinances inconsistent herewith or in conflict with any of the specific terms enacted hereby, to the extent of said inconsistencies or conflicts, are hereby specifically repealed.