A proposed $1.5 billion redevelopment of the U.S. Steel property in Falls got another boost recently when the township supervisors, Pennsbury School Board and Bucks County Commissioners all approved the creation of a Keystone Opportunity Investment Zone for more than 1,800 acres of the site. If affirmed by the Pennsylvania Department of Community and Economic Development, the KOIZ designation will exempt the land from all property taxes normally paid to the three governmental bodies for a 15-year-period starting Jan. 1 and ending Dec. 31, 2035. However, NorthPointe Development, which is purchasing the site, has signed on to a payment in lieu of taxes agreement that will require it to pay the equivalent of 110% of the property taxes on the land as currently assessed, before any improvements, Falls officials said. They had no estimate on the amount of the payments.