County of Berks – Press Release

[READING, PA, December 22, 2022] The Berks County Commissioners unanimously voted this morning to work with BerksIDA to create an Infrastructure Investment Fund for the County through an initial contribution of $5 million. The Infrastructure Investment Fund ties into the County’s IMAGINE Berks plan and will serve as a revolving loan fund to support new or expanded infrastructure that leads to job creation or property tax growth. This fund will lend money to local taxing bodies to expand infrastructure necessary for businesses to expand or move into the region. The fund would have attractive repayment terms, but still act as a loan so that the fund can be replenished. The loans will be made anticipating land values to appreciate from the investment, raising county property tax dollars and providing some tax relief to Berks County taxpayers. The fund will reside with and be administered by BerksIDA. The County may or may not choose to add additional dollars to the fund in the future

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