Roundtable Discussion Held On Waterfront Development In Pa.

By Hadas Kuznits

PHILADELPHIA (CBS) --  A new Pennsylvania Senate bill being discussed could spur additional development on Pennsylvania's waterfront land.

A roundtable discussion was held among senators on a riverfront tax credit bill pending in the Senate.

"And what it does is it provide a tax credit for development along the rivers," said state senator John Sabatina, Jr. He's heading up the bill.

"I'm focused on Philadelphia but it is statewide."

He says the bipartisan bill is expected to pass when it comes up for a vote.

"The way it works is a company pays taxes and they get a tax credit with 90 percent of their investment to redevelop unused portions of the rivers."

(Kuznits:) "Do you have an image in your head of how that development along the river might look?"

"Yeah, I see families coming on Sundays and spending time on the river, going to shops and maybe boating, things that you just don't see now."

In:
• Philadelphia