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<p>WILKES-BARRE &#8212; After more than an hour of discussion and criticism from several property owners, a Luzerne County Council majority voted Tuesday to grant a controversial Keystone Opportunity Zone tax break extension for a Wright Township property.</p><p>The Greater Wilkes-Barre Chamber of Commerce sought the 10-year real estate tax break extension for the 27.35-acre former Poseidon Pools property in the Crestwood Industrial Park so it can be sold to Mericle Commercial Real Estate Services, which plans to invest $6 million building a more than 200,000-square-foot speculative structure projected to create 170 jobs.</p><p>Eight council members supported the extension: Patrick Bilbow, Tim McGinley, Rick Morelli, Chris Perry, Sheila Saidman, Robert Schnee, Matthew Vough and Jane Walsh Waitkus.</p><p>The three in opposition: Harry Haas, Linda McClosky Houck and Stephen A. Urban.</p><p>Morelli said he respects arguments made by tax break opponents but believes attracting new businesses and jobs help the county.</p><p>&#8220;I think that this is a wise choice,&#8221; Morelli said, noting Mericle is &#8220;taking a big risk&#8221; building without a tenant locked in.</p><p>The area won&#8217;t attract companies without tax break incentives offered in competing markets, said Saidman. While some jobs added to the region&#8217;s inventory are considered low paying, Saidman said new employers offer opportunities for advancement.</p><p>Walsh Waitkus said job creation was a primary goal when she ran for council, and she can&#8217;t reject 170 new jobs.</p><p>Schnee said he did not meet Mericle President Robert Mericle until Tuesday night but believes the county should support the developer&#8217;s proven record attracting employers since 1985. The long-idle Crestwood site will create jobs that put food on tables, he said.</p><p>&#8220;My question is, &#8216;Where would the valley be without a guy like him?&#8217;&#8221; Schnee asked, praising Mericle for providing heavy equipment to save homes during record 2011 Susquehanna River flooding.</p><p>Bilbow said people working in the new jobs will spend money at area businesses.</p><p>McGinley said he appreciates Mericle&#8217;s willingness to invest private funds in a speculative structure and is confident &#8220;a lot of benefits will come down the road&#8221; from the resulting project.</p><p>Echoing arguments from citizen critics, Haas said the breaks mean officials are &#8220;picking winners and losers&#8221; by offering incentives to some parcels but not others.</p><p>&#8220;It just feels like a perpetual shell game,&#8221; he said of continued requests for breaks.</p><p>Urban said other businesses are creating jobs and expanding in the area without seeking breaks.</p><p><strong>New borrowing</strong></p><p>County Manager C. David Pedri also presented more details about a proposed $35.14 million borrowing package that would provide $20.7 million for a 911 emergency radio communication system upgrade, $1.8 million toward new paper-trail voting machines and $12.1 million to refinance high-interest debt.</p><p>The costs to issue the loan would be around $150,000, he said.</p><p>After reviewing submissions from four prospective lenders, the administration is heavily favoring a proposal that would provide a guaranteed 2.174 percent interest rate and charge a one-time $4,000 bank fee, he said. Lenders cannot be identified during the screening process, he said.</p><p>The county would save more than $2 million by refinancing the $12.1 million in old debt from 2008 and 2009 because that portion currently carries interest ranging from 6.75 to 8 percent, Pedri said.</p><p>Pedri said he prefers a bank loan because traditional bond borrowing is &#8220;extremely expensive&#8221; and has restrictions on the timing of potential future refinancing. The interest rate would be about 2.45 percent for a bond, he said.</p><p>As of June 30, the county owed about $272 million in principal and interest, records show.</p><p>Harrisburg-based Public Financial Management, the county&#8217;s financial adviser, was unable to attend Tuesday&#8217;s meeting but will present more specifics to council when the proposed borrowing ordinance is up for introduction Sept. 24, including an overview on all outstanding debt, Pedri said.</p><p>Under the administration&#8217;s proposed schedule, council would adopt the ordinance Oct. 7 so the county could settle the transaction and receive the funding Nov. 26.</p><style>
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<div class="neCaption">Luzerne County Courthouse </div></div><div class="metaInfo"><photo0>https://www.timesleader.com/wp-content/uploads/2019/09/web1_luzcocourthouse01.jpg</photo0><caption0>Luzerne County Courthouse </caption0><photoCredit0></photoCredit0></div></div>
<div class="metaInfo"><bylineMeta><p>By Jennifer Learn-Andes</p><p>jandes@www.timesleader.com</p></bylineMeta></div><div class="metaInfo"><shirttailMeta><p>Reach Jennifer Learn-Andes at 570-991-6388 or on Twitter @TLJenLearnAndes.</p></shirttailMeta></div>

Luzerne County Council approves tax break extension