Catasauqua’s Iron Works appraisal forthcoming, LCRA says | Lehigh Valley Regional News

The recently reconstituted Lehigh County Redevelopment Authority received an update on the Iron Works redevelopment project during its virtual July meeting Thursday morning.

The Borough of Catasauqua has sought the redevelopment authority’s assistance in the disposition and administration of the asset. Redevelopment corporation law permits entities to convey property to a redevelopment authority which, in turn, reviews proposals by prospective developers, eventually arriving at a preferred selection. The Iron Works project is the first for the revitalized redevelopment authority.

The LCRDA believes that the property’s successful redevelopment could generate more than $1 million in additional tax revenues each year, new jobs and substantial long-term economic benefits for Catasauqua, according to project consultant Chad Helmer. The project has been previously classified by LCRDA’s Chris Gulotta as a “quintessential public-private partnership…