Park update, LERTA app, among council topics

Amy Cherry
Staff Writer

St. Marys City Manager Tim Pearson reported asbestos removal is complete inside the multiple buildings along Depot Street, near the vicinity of the parking garage.
The buildings are set to be demolished at by Earthmovers Unlimited, Inc. who submitted the lowest bid for the project at $147,945.
He added the recent Light the Night event hosted by the Relay for Life of Elk County in the city’s new downtown park on Depot Street was a success and is a precursor to future events at the park.
“The event was a good run for us,” Pearson noted.
In regard to the treasurer’s report, Pearson said the city is still looking at significant losses in earned income tax related to COVID-19.
During their recent meeting, City Council unanimously approved a LERTA application from DeLullo Trucking for a truck storage building located at 1028 DeLaum Road. The projected cost of the building is $135,000.
LERTA or Local Economic Revitalization Tax Assistance authorizes each local taxing authority to exempt from real property taxation the assessed valuation of new construction in deteriorated areas or improvements to deteriorated industrial, commercial, or other business property for a period of 10 years. The schedule breakdown is 100% exemption for the first two years, 75% exemption in year three and 50% exemption in year four.