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A Resolution of the Council of the County of Allegheny amending the tax increment financing plan for the Waterfront Tax Increment Financing District, and authorizing related actions.
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Whereas, Pennsylvania's Tax Incremental Financing Act (53 P.S. §6930.01 et seq., as amended) (the “TIF Act”) provides local taxing bodies with legal authority to cooperate in providing financing for development of blighted areas within their respective jurisdictions in order to increase the tax base and improve the general economy; and
Whereas, the County created the Waterfront Tax Increment Financing District (the “TIF District”) in 1998 and, pursuant to The Waterfront Tax Increment Financing District Project Plan, as amended (the “TIF Plan”), the Redevelopment Authority of Allegheny County (the “Authority”) issued Tax Increment Financing Bonds (the “Bonds”) in 2000 to finance certain infrastructure improvements within the TIF District; and
Whereas, the County previously authorized use of the proceeds of one series of the Bonds (the “Series C Bonds”) for payment of costs of engineering and constructing a flyover bridge in the Borough of West Homestead; and
Whereas, in accordance with the TIF Plan, principal of and interest on the Series C Bonds are payable solely from revenues provided by the County; and
Whereas, the Authority, after consulting with the developer, the municipalities and the school district that participated in the TIF Plan, has recommended that the use of the Series C Bonds proceeds be changed from payment of costs of engineering and constructing the flyover bridge to instead payment of costs of engineering and constructing for the improvement of the existing Seventh and Eighth Avenue intersection in West Homestead, and perform associated public infrastructure improvements in the adjacent two-block area of Eighth Avenue. (the “2006 Capital Project”).
The Council of the County of Allegheny hereby resolves as follows:
Section 1. Change in Use of Proceeds
The change in the use of the proceeds of the Series C Bonds from payment of costs of a flyover bridge to payment of costs of the 2006 Capital Project is hereby approved. Amendment No. 1 to the TIF Plan, which was adopted by the County on November 4, 1999 pursuant to a Resolution at agenda number 1207-A-99 (“Resolution 1207-B-99”), is hereby modified, but only to the extent necessary to accommodate the change in use of the Series C Bonds proceeds.
Section 2. Copy of Resolution to be Delivered to Mayors
The Chief Clerk of County Council or the County Manager is directed to deliver a copy of this resolution to the Mayor of the Borough of West Homestead, the Mayor of the Borough of Homestead, the Mayor of the Borough of Munhall and the President of the Board of Directors of the Steel Valley School District.
Section 3. Additional Actions
The Director of Economic Development, or his designee (hereinafter “Director”), is hereby appointed as the County's representative to review and execute all relative documentation. The Director and such other appropriate public officials of the County are hereby authorized and directed to take such additional actions in cooperation with the Authority that may be required to further the implementation of the TIF Plan, as modified by this Resolution.
Section 4. Severability. If any provision of this Resolution shall be determined to be unlawful, invalid, void or unenforceable, then that provision shall be considered severable from the remaining provisions of this Resolution which shall be in full force and effect.
Section 5. Repealer. Any resolution or ordinance or part thereof conflicting with the provisions of this Resolution is hereby repealed in so far as the same affects this Resolution.