Reading is poised for opportunity and growth, Mayor Eddie Moran said in response to the state designating Reading as a City Revitalization and Improvement Zone.
“Reading is ready,” Moran said. “Let me say that again. Reading is ready. OK? Reading is ready to take its place as a city of opportunity; ready to attract the kinds of investment and developments that will transform our future; ready to welcome new businesses, create jobs and foster innovation; ready to show that our community is stronger, more resilient and more ambitious than ever before.”
The mayor said the City Revitalization and Improvement Zone, or CRIZ, will equip the city with powerful tools to reinvest tax revenue into projects that will strengthen the community and improve quality of life for residents.
“We’re talking about real change, folks: new businesses, new jobs and a renewed sense of pride and energy in our community,” he said. “That’s huge.”
The program enables the reinvestment of state and local taxes collected within a designated area of not more than 130 acres to stimulate economic development projects within that area.
PA approves revitalization zone for Reading
The mayor thanked his administration, the city’s CRIZ Authority, state Reps. Johanna Cepeda-Freytiz and Manny Guzman, and state Sen. Judy Schwank for helping the city achieve the designation.
But the designation is just a starting point, he said. Making the program work for Reading will require focus, commitment, unity and synergy, he said.
“The real work begins now,” Moran said. “We must move forward with intention, ensuring these resources are used in ways that reflect the needs and aspirations of our community. Together, we’ll make sure this opportunity brings lasting, meaningful growth for every corner of our city.”
Reading’s proposed zone is made up of noncontiguous parcels in different parts of the city, including several former industrial sites, such as the Glidden Paints site on Bern Street. It also includes about 30 acres in the downtown Penn Street corridor, about 17 acres in the Canal Street area and nearly 15 acres on Washington Street.
Reading officials in December added the former Dana Corp. site to the revitalization zone. (BILL UHRICH/READING EAGLE)
The designation has the potential to produce $300 million in economic activity in Reading, the mayor said.
But don’t expect it to happen overnight, he said, noting it could be 30 years before the full impact of the program is felt.
Moran also thanked City Council and the Reading School District Board of Directors for their support of the application.
Council members at a special meeting last Monday celebrated the achievement and the collaboration of local and state leaders that made it possible.
Calling the CRIZ designation a huge accomplishment, Councilman Jaime Baez Jr. commended all those involved.
“It truly shows the leadership under this current mayoral administration and the current City Council,” he said. “This is going to be transformative for our community.”
Council called the special meeting in order to reallocate remaining American Rescue Plan Act, or ARPA, funds before the year-end deadline.
The leftover funds totaling $2,625,000 were transferred to nonprofit projects from completed capital improvement projects or those unable to be completed in time to qualify for ARPA funding.
The following reallocations were approved:
• Finanta Credit Union, $1 million.
• Our City Reading/Helping Harvest project at GoggleWorks II, $500,000.
• Berks Community Health Center, $250,000.
• HDC Mid-Atlantic affordable housing project, $250,000.
• Salvation Army, $250,000.
• Opportunity House $200,000.
• Genesius Theatre, $50,000.
• Berks Latino Chamber, $50,000.
• Greater Reading Chamber Alliance, $50,000.
• Rudden Family Foundation, $25,000.
“These are some great, tremendous organizations that are doing a lot of good,” Jack Gombach, city managing director, said, speaking on behalf of the Moran administration. “The city is blessed to have these organizations doing this work. We’re very excited to support them.”