The Altamont - Enterprise Zone

The Altamont, the Queen of the City, is located in an Enterprise Zone. Low interest City loans are available. Read the facts on KOZ, and price per square foot of your space, including heat, electric and fit-out, and then compare with the Altamont. Our own private sixty-car parking lot and the new Intermodal Center directly across Broad Street are just the beginning of what we have to offer.

Come and compare our beautiful lobby and gorgeous Ballroom with its 22’ high ceiling, original chandeliers now upgraded with dimmers, and a twenty-ton air conditioning and heating unit for dining in luxury and comfort. Our portable dance floor, movable stage, portable sound system, and antique cake table round out a beautiful room ready to fit your needs. Catered exclusively by Ferdinand’s, for a great wedding reception, banquet, and much more, call us for competitive pricing and really great food.

What They Offer	The Altamont Offers You
Much higher square footage cost	Reasonable square footage cost ...and flexible terms to suit your needs
Shared electric and heat costs	Separate metered gas and electric ...and individual heat & a/c controls for each unit
Higher fit-out costs	Fit-out costs partially defrayed
Inferior Location	Superior Location

TAX FREE

The Truth About Tax-Free Zone Proclamations

The truth is, Tax-Free Zones have tangible and intangible costs for the business owner. Furthermore, there are penalties for non-conformance to the Keystone Opportunity Zone (KOZ) rules. When operating in a KOZ location, you also have to contend with government beauracracy, not just ordinary building management.

Advantages

Tax abatement in SOME cases are reduced for a limited time through credits, waivers, and broad-based abatements for state and local tax.

Disadvantages

Much higher square footage cost
Need to re-qualify each year for tax abatement
(But Everyone Loves Doing More Paperwork, Right?)
Need to notify changes in "status"
No short-term leases
Subject to penalties if you move out within the first five years
Existing PA businesses relocating into a KOZ may not receive any exemptions, deductions, abatements, or credits unless they:
- Increase full-time employment by at least 20% in the first year or
- Make capital investment in property equal to 10% of your gross or
- Enter into a lease agreement for property located within the KOZ for a term at least equivalent to the duration of the subzone and with the aggregate payment under the lease agreement at least equivalent to 5% of the gross revenues of that business in the immediately preceding calendar or fiscal year.
Compliance, Penalties, and Deadlines
Subject to civil and criminal penalties for violation of the Act
Department of Revenue reserves the right to conduct an audit to ensure full compliance
Risk of Repayment of Benefits
Only to 2013
Long-term savings?
Don’t Jump Through Hoops; save time and money now and for the long term with The Altamont.

Click to go to top