The Local Economic Revitalization Tax Assistance (LERTA) Program grants a partial tax abatement on improvements made to properties within the Borough limits. Property owners of residential, commercial, industrial, or any other type of property located within the Borough are eligible for a 7-year partial tax abatement on property tax increases which are a result of improvements to the property that result in an increased assessed value.
If a property owner decides to make an improvement to their property, whether it be new construction or renovation, for the first year immediately following the reassessment of the improved property, the owner will pay property taxes in the amount of the base assessment. In other words, the taxes will not increase from the base amount prior to construction.
In the second year, the property taxes will be calculated at the base plus 10% of the increment. For each following year, an additional 15% of the increment will be added to the base until 100% of the increment is reached.
|Years following reassessment||Year 1||Year 2||Year 3||Year 4||Year 5||Year 6||Year 7||Year 8|
|% of increment abated||100%||90%||75%||60%||45%||30%||15%||0%|
|% of increment added to base||0%||10%||25%||40%||55%||70%||85%||100%|
Green Roof Incentive
If a building or parking structure includes an approved "Green Roof", the area covered by the Green Roof may exceed the zoning district's allowed maximum building coverage for the property up to a maximum increase of 20 percent. For example, if a zoning district has a maximum building coverage of 30 percent of the property, and a building footprint equal to 20 percent of the lot is covered by a green building roof, then the maximum total allowed building coverage shall be 50 percent. In such example, an area equal to a minimum of 20 percent of the lot area would need to be covered by a Green Roof, but not the entire building roof.
In order to be considered a “Green Roof,” such area shall be exposed to direct sunlight at noon-time and shall be covered with vegetation that is designed to absorb stormwater runoff. Vegetation shall be planted in soil or other growing material with a minimum of 4 inches of depth. Up to 10 percent of an area of a Green Roof may include walkways or skylights. If such vegetation dies, it shall be required to be replaced within 150 days.
Pervious Pavement Incentive
Pervious pavement used for vehicle parking and vehicle movement is considered impervious for the purposes of the zoning ordinance impervious coverage requirement, except as follows. The maximum impervious coverage of a lot or a tract may be increased by up to 10 percent of the lot area if a corresponding land area is covered by Borough-approved pervious pavement.
For example, if a lot includes 10,000 square feet, and has a 50 percent maximum impervious surface requirement, and the lot will include 1,000 square feet of pervious pavement, then a maximum of 6,000 square feet of the lot may be covered by impervious surfaces instead of 5,000 square feet. In such example, 5,000 square feet of the lot could be covered with building roofs and paving surfaces that are impervious.
LEED-Certified Building Incentive
New buildings that are LEED-certified or meet a higher standard under the latest published standards may exceed the zoning district's maximum building coverage and/or the maximum impervious coverage by 10 percent for the lot. This incentive may not be added on top of the other building and impervious incentives in this Section.
The applicant is required to have a LEED-certified professional provide a statement in writing to the Borough at each of the following times:
a) the land development application
b) at the time of the building permit application, and
c) at a point half-way through construction.
Such statement shall provide a professional opinion that the project will be able to meet the LEED Certification, and specifying the point system that will be used.
If a building fails to meet the requirements for LEED Certification after occupancy, the Zoning Officer shall have the authority to require that the current building owner make sufficient changes to the building and submittals to obtain the intended certification.