TribLIVE

| News


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Millcraft reconsiders Washington County base

About Bob Bauder

Daily Photo Galleries


By Bob Bauder

Published: Saturday, Dec. 8, 2012, 12:01 a.m.

Millcraft Industries is reconsidering its future in Washington because city council denied a request to extend tax-increment financing of an $18 million building it owns downtown, a company official said on Friday.

Millcraft COO Lucas Piatt said the extension would have lowered the company's costs on the seven-story Crossroads Center on Beau Street and helped attract new tenants.

“We're very disappointed, and we have to sit back and reflect and decide what the near- and long-term future of Millcraft is here in the city of Washington,” he said.

Washington Council members rejected the five-year extension to 2024 in a vote on Thursday.

Matthew Staniszewski said he supported the extension because money generated by the financing plan is paying debt on a public parking garage owned by the city.

Tax-increment financing permits government borrowing for such public infrastructure as roads and, in this case, a parking garage, and uses increased property-tax revenue created by accompanying development to pay off the debt.

Millcraft built Crossroads Center six years ago for $18 million. The building was expected to spur downtown development.

Piatt said the company sought the extension to offset the loss of a major tenant who abandoned the building after filing bankruptcy. Washington County and the Washington School District approved the TIF extension, according to Staniszewski.

Bob Bauder is a staff writer for Trib Total Media. He can be reached at 412-765-2312 or bbauder@tribweb.com.

 

 

 
 


Show commenting policy

Most-Read Stories

  1. Alvarez struggles as Pirates fall short against Brewers
  2. Orpik: Penguins must keep their cool
  3. Pirates trade for Mets first baseman Davis
  4. Gorman: Can Mike Tyson save boxing?
  5. Dems in Pa. governor’s race vow to close loophole, say firms skirt corporate tax
  6. Penguins’ Bylsma wants Cup version of Letang
  7. Latrobe woman texts searchers in Linn Run State Park to tell them she’s OK
  8. City’s efforts bolstered to track illegal dumping
  9. Rossi: Pens sticking to power-play plan
  10. Pandora sued by record companies
  11. California University of Pennsylvania offers training for weather spotters
Subscribe today! Click here for our subscription offers.