Lansdale officials have made it easier to take advantage of a program that grants businesses discounts on electric bills and development fees.
Borough Council Wednesday night lowered the qualifying criteria for receiving economic development incentives. The new threshold is a 50,000 dollar facility investment while employing five fulltime workers, which will give the business a five percent discount on its electric bill for two years as well a 25 percent reduction in development fees. A second new tier has higher qualifying criteria but offers even bigger discounts. Council President Denton Burnell says the Borough wants more businesses to participate in the program.
“Those two lower tiers open that initiative up to a smaller business, you know, like a Round Guys or Smoke Daddy’s Barbeque.”
Borough Council must approve the participation of a business in the program. The North Penn Y.M.C.A. got the green light Wednesday night. It qualifies for a seven percent discount on its electric bill over the next seven years after investing about 12 million dollar facility on East Main Street.