Pittsburgh – April 9, 2024 – Today, State Senator Wayne Fontana issued the following statement regarding the proposed Local Economic Revitalization Tax Assistance Program (LERTA) for Downtown Pittsburgh:
I wholeheartedly support Pittsburgh City Councilman Bobby Wilson’s LERTA proposal.
The General Assembly created the LERTA program to give communities a valuable tool to incentivize reinvestment into areas in need of redevelopment.
Recognizing the impact of the program and building on past successes, I am introducing a bill to update the cap for the tax credit from its original 1977 level of 10 years, to a more practical 20 years.
The councilman’s proposal enjoys widespread support from property owners, developers, organized labor, and elected officials—for good reason. A thoughtfully-designed LERTA can supercharge redevelopment while maintaining a strong tax base.
This is a good idea that will benefit not only the City of Pittsburgh’s taxpayers, but everyone who comes to the city for work or pleasure.
###