Pennsylvania Agreement to Revive

State:
Pennsylvania
Control #:
PA-SKU-0899
Format:
PDF
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Description

Agreement to Revive

The Pennsylvania Agreement to Revive (PA Agreement) is a formal agreement between the State of Pennsylvania, local governments, and private developers to work together to revive financially distressed communities. The agreement is designed to stimulate economic development, promote job growth, and encourage reinvestment in these communities. The agreement involves a combination of tax incentives, grants, loans, and other forms of public-private partnerships to help the distressed communities. The agreement includes four main types of agreements: Community Revitalization Tax Credit (CRT), Keystone Opportunity Zone (kHz), Neighborhood Assistance Program (NAP), and Keystone Innovation Zone (kHz). The CRT provides tax credits to firms for investments in distressed neighborhoods; the kHz provides tax abatement and other incentives to businesses that locate or expand in designated areas; the NAP provides grants and assistance to local governments and organizations for projects that address community needs; and the kHz provides access to capital and technical assistance to entrepreneurs in the designated areas.

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FAQ

Code § 401 - Time for Service. Reissuance, Reinstatement, and Substitution of Original Process. (a) Original process shall be served within the Commonwealth within 30 days after the issuance of the writ or the filing of the complaint.

Pennsylvania judgments are valid for 5 years. Judgments can be revived every 5 years and should be revived if a creditor is attempting to actively collect on the debt. Judgments also act as a lien against real property for up to 20 years or longer if properly revived.

A Writ of Summons must be served within 30 days after it was filed. If the sheriff's office does not serve the writ within this time frame, the writ will essentially expire. In such a case, the praecipe will have ?tolled the Statute of Limitations? and become inactive. However, the prothonotary can reissue the writ.

Once granted, a Writ of Execution is good for 90 days.

(c) The lien of a writ of revival or of an agreement to revive shall continue for a period of five years from the date on which the writ or agreement was entered in the judgment index.

Pennsylvania judgments are valid for 5 years. Judgments can be revived every 5 years and should be revived if a creditor is attempting to actively collect on the debt. Judgments also act as a lien against real property for up to 20 years or longer if properly revived.

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Pennsylvania Agreement to Revive