Land Use & Zoning
A Pennsylvania brownfield redevelopment project in an older industrial city may utilize which financing tool that defers property taxes?
APHFA first mortgage financing
BLocal economic revitalization tax assistance (LERTA) or tax increment financing (TIF)✓ Correct
CPREC development approval
DState police power waiver
Explanation
LERTA (Local Economic Revitalization Tax Assistance Act) allows Pennsylvania municipalities to provide graduated property tax abatements for new construction and rehabilitation in deteriorating areas. TIF captures future tax increment for infrastructure. Both tools are widely used in Pennsylvania urban revitalization and brownfield projects.
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