Oct 6, 2016
Allentown's NIZ, When Free Isn't Cheap Enough
Another business, paying minimum rent, bit the dust in Allentown's NIZ. Others, like Moravian Bookstore, are probably being paid to stay there. Pawlowski, The Morning Call, and a few apologists hoping for a crumb or two, keep saying that the sky looks bright, when in truth it has already fallen. The city, acting like a cannibal, would rather sacrifice Symphony Hall than say no to J.B. Reilly's subsidized real estate scheme. They keep hoping that perhaps he's right, in that a few more millennials will turn the tide. They don't understand that with the subsidizes there is not a normal relationship between demand and his new construction. This boutique legislation, essentially crafted for him, allows him to attach ever expanding state taxes to his debt service, and nobody is counting those chickens. If and when the chicken count gets low, Pat Browne simply adds another amendment, finding yet another revenue source.