Jun 6, 2013
The Alchemy of the NIZ
All over the state, politicians clamoring like baby birds for worms, want to have a NIZ in their district. Although not one new person has yet to step foot in downtown Allentown, by their criterion, the zone is a raging success; "We looked at Allentown and said 'Wow!'" Although chemists never succeeded in making gold from lead, new construction is the coin of the realm in politics. Never mind if the project turns into a white elephant. Never mind if the new tenant in Allentown turns Boyertown into a ghost-town. The key words are ground breaking and ribbon cutting. Reilly's two new projects, storefronts on Hamilton Street, and apartments on Linden Street, have received NIZ Authority Approval; What a surprise! Order more ceremonial shovels and oversize scissors. As more NIZ districts are approved, state taxes will have to rise to cover these developer incentives. Once upon a time a new business needed a building. Now we build new buildings that need to borrow a business.