Palmer Holds Hearing on Route 33 Improvement District

officials held the first of three public hearings Monday night to discuss details on creating a Neighborhood Improvement District and governing board for the land around the proposed Route 33 interchange.

The proposed interchange at Tatamy Road will feature multiple lanes and make the roads more accessible to residents in Palmer, Forks, Nazareth and Upper Nazareth.

Palmer officials believe with thousands of cars using Route 33 and Tatamy Road, there is a tremendous opportunity for growth, especially in the northern end of the township.

With 689 undeveloped acres at stake, the township wants to ensure that another plan is in place after a three-year tax-deferment program known as TIF (Tax Incremental Financing) expires ... that's what the NID is for.

Representatives of – which owns the land and is covering construction costs – gave an overview of the NID to the Board of Supervisors and public.

"The NID serves as a backstop to the TIF," said attorney Keenan Wright, who is assisting Chrin with the proposal.

After three years, when the tax deferment expires, the NID, with a seven-member board, takes effect until loans for the development are paid off, which could be about 20 years.

Under a TIF, a bond or loan is taken out to pay for property improvements. The goal is for development to increase property values of surrounding areas. New revenue from property taxes is used to pay off that bond.

The board would be set up to manage bond payments. The board would consist of the Palmer supervisors and a representative from each of the property owners and business associations.

Wright said the board might meet a few times a year during the first three years of the TIF to deal with issues such as a property's subdivision. But the board's real work would start after the TIF.

"The TIF is up to three years," Wright said. "We want to allow time for development activity and construction and for the property to get on the tax rolls."

The and Northampton County also support the TIF plan under which the school board, counties and municipalities agree to forgo tax revenue in the short term to get increased revenue later.

Another public hearing is scheduled for April 24; members of the public are encouraged to attend to ask questions or make comments.

Supervisors hope to create and adopt an ordinance that creates the NID on June 11.