[CPEO-MEF] School board passes KOIZ resolution

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Pennsylvania
School board passes KOIZ resolution
Letterkenny zone would give businesses tax breaks
by TERRY TALBERT
TheGazetteNews.com Staff Writer

April 10 - Another economic development tool is closer to being in the
hands of the Letterkenny Industrial Development Authority (LIDA), thanks
to a vote last night by the Chambersburg Area School District board.

By a vote of 7 to 2, with members Penny Stoner and Stanley Helman
dissenting, the board voted to approve a resolution that would establish
a Keystone Opportunity Improvement Zone (KOIZ) on 41 acres of Army-owned
land at Letterkenny that will eventually become part of the Cumberland
Valley Business Park there.

Under the state-approved program, which would go into effect on Jan. 1,
2004, companies locating in the KOIZ would not have to pay taxes for 15
years - until after 2018.

All taxing authorities must approve the zone before it can go into
effect.

The school board acted at the request of LIDA Executive Director John
Van Horn. LIDA is attempting to redevelop former Army land in the
vicinity of the Letterkenny Army Depot for industrial/commercial use.

The parcel in question is bounded by Pennsylvania Avenue,
Letterkenny-Carbaugh Road, Old Letterkenny-Texas Road, and Rt. 997. It
is expected to be transferred to LIDA in 2005.

The KOIZ is intended to help make "deteriorated property" at 11
state-designated sites throughout the state more attractive to companies
looking for a place to locate.

Van Horn told the school board that "a majority of the (41-acre) area is
covered by metal, dry storage tanks in various stages of deterioration.
As part of the Business Park Reuse Plan, the tanks are currently slated
for demolition as industrial demand for the parcel increases."

This article can be viewed at:
http://www.thegazettenews.com/newspub/story.cfm?ID=8475

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