The Neighborhood Improvement Zone (NIZ) is a special taxing district that encourages development and revitalization in Allentown. The NIZ consists of approximately 128 acres in center city Allentown and along the western side of the Lehigh River. Certain taxes from State and Local Tax Revenues generated by new and existing businesses are used to pay down debt service on bonds and loan. Specifically, subcontractors on these capital projects are required by legislation to report their Sales & Use Tax, Employer Withholding Taxes, Earned Income Taxes, Local Service Taxes and Business Privilege Taxes that will be used to pay down bonds and loans.
Edge Business Solutions has been engaged by Alvin H. Butz to ensure that their subcontractors are in compliance for the Allentown Arena and Butz Corporate Center’s Expansion. North Star Construction Management has also engaged Edge Business Solutions to ensure that its subcontractors are in compliance for the Two City Center Project. Moreover, Charles Street Capital executed a contract last week with Edge Business Solutions to ensure that its subcontractors are in compliance for the Renovation of the Schoen’s Building in Allentown.