Bensalem: No KOIZ

From the BCCT.

No tax zone for Horizon center
By: MANASEE WAGH
Bucks County Courier Times

The Bensalem school board Wednesday night failed to approve a Keystone Opportunity Zone designation for part of the Horizon Corporate Center near the Neshaminy Mall. The five board members present refused to make a motion to consider the issue, so their inaction amounted to a failed vote.

The KOZ program offers tax relief to companies, typically allowing them to pay no property taxes on future development. Tenants also could get waivers from certain business taxes.

Brian O'Neill, who owns O'Neill Properties on Horizon land, gave an impassioned speech claiming that the KOZ designation would draw more business and potentially 2,000 construction jobs to the area during the next few years.

About 100 construction trades union members supported O'Neill at the meeting and left sorely disappointed.

Opponent George Flocco, executive director of Bensalem Economic Development Corp., said the tax breaks would only force township residents to bear an additional tax burden.

If the board had voted for the KOZ proposal, O'Neill Properties would have gone to the township today to get the next part of the needed approvals. Township, county and school district approvals are all needed to allow a property to take advantage of a KOZ.

Board members said it didn't make sense to allow prime real estate like the Horizon Corporate Center to get a break on taxes.

Express Scripts in Bensalem recently got KOZ status in Bristol, making it exempt from several forms of state business taxes through 2020. Its employees would still pay wage taxes to the communities where they live or work.