From City of Reading<\/p>\n
The Reading CRIZ Board Authority hosted a CRIZ Launch & Learn event on Wednesday, March 4, bringing together local businesses, developers, property owners, and community partners to provide an overview of how the City Revitalization Improvement Zone (CRIZ) program will support continued investment and growth across Reading.<\/p>\n
Held at Alvernia\u2019s John R. Post Center at Reading CollegeTowne, the in-person session focused on educating stakeholders about how the CRIZ program functions, who qualifies, and how eligible projects can leverage reinvested state tax revenues generated within the zone to drive redevelopment and economic activity.<\/p>\n
Mayor Eddie Mor\u00e1n emphasized that while Reading\u2019s CRIZ designation is already in place, the event was designed to ensure clarity, transparency, and accessibility for the community.<\/p>\n
\u201cToday is an important step for the City of Reading as we continue building on the progress happening across our community,\u201d said Mayor Mor\u00e1n. \u201cThe designation alone doesn\u2019t create change. Understanding how to leverage it does. This event is about making sure our business community and development partners know how to use this powerful tool effectively.\u201d<\/p>\n
The CRIZ program allows certain state tax revenues generated within the designated zone to be reinvested back into local development projects. This financing tool can support the redevelopment of vacant and underutilized properties, encourage business expansion, stimulate housing growth, and attract new private investment \u2014 all while strengthening existing neighborhoods.<\/p>\n
Mayor Mor\u00e1n also thanked members of the CRIZ Board Authority for their willingness to serve and for providing the oversight, accountability, and long-term vision required to implement the program responsibly. He further acknowledged Alvernia University for hosting the event and for its continued partnership in advancing downtown revitalization and economic development initiatives.<\/p>\n
The event featured breakout learning sessions for key stakeholder groups, offering practical guidance on project structuring, eligibility requirements, and available incentives. City leaders and industry experts led discussions aimed at aligning CRIZ opportunities with Reading\u2019s broader economic development strategy.<\/p>\n
\u201cWe are already seeing momentum across Reading with new housing, institutional investment, and small business growth,\u201d Mayor Mor\u00e1n added. \u201cCRIZ is another tool that helps us accelerate that momentum in a thoughtful and intentional way, with growth that benefits our residents, supports local entrepreneurs, strengthens our tax base, and improves quality of life across our city.\u201d<\/p>\n
The Reading CRIZ Board Authority and the City will continue working collaboratively to provide guidance and information as projects within the CRIZ zone move forward.<\/p>\n