Title
A Resolution of the Council of the County of Allegheny authorizing pursuit of a Tax Increment Financing plan in the City of Pittsburgh, Allegheny County, Pennsylvania.
Body
Whereas, Pennsylvania's Tax Increment Financing Act, 53 P.S. §6930.1 et seq., (the “Act”) provides local taxing bodies authority to cooperate in providing financing for development of blighted areas within their respective jurisdictions in order to increase the tax base, provide new employment opportunities and improve the general economy; and
Whereas, under the Act the Urban Redevelopment Authority of Pittsburgh (“URA”) may prepare a Tax Increment Financing (“TIF”) Plan to provide financing for the elimination and prevention of the development or spread of blight within designated tax increment districts located within the City of Pittsburgh (the “City”) and to present such Plan to the Allegheny County Council (the “Council”) for consideration; and
Whereas, a developer is working to construct a commercial development and necessary public infrastructure improvements (the “East Liberty Gateway Project”) situated within the East Liberty Neighborhood of the City; and
Whereas, Allegheny County (the “County”) is expected to benefit from the use of tax increments to pay certain project costs as defined by the Act, by stimulation of private investment, increases in property values, creation of employment opportunities and improvement of surrounding properties; and
Whereas, the implementation of any TIF Plan is fully dependent on the cooperation and participation of all local taxing bodies, namely the City, the County, and the School District of Pittsburgh (the “School District”); and
Whereas, the respective governing bodies of the City and the School District are expected to pass resolutions designating representatives to work on the TIF Committee and cooperate in implementing a TIF Plan with respect to the East Liberty Gateway Project.
The Council of the County of Allegheny hereby resolves as follows:
Section 1. Incorporation of Preamble.
The provisions set forth in the preamble to this Resolution are incorporated by reference in their entity herein.
Section 2. Exploration of TIF
The County is hereby authorized to explore the use of TIF financing to fund a portion of the cost of the East Liberty Gateway Project; and the URA is requested to prepare a detailed TIF Plan for a redevelopment area in the City, as required by the Act.
Section 3. County's Representative
The Director of Economic Development or his designee is hereby designated as the County's representative to work with the URA, the City of Pittsburgh, the School District of Pittsburgh and any other parties in preparing the TIF Plan, as required by the Act.
Section 4. Cooperative Actions
The appropriate public officials of the County of Allegheny are hereby directed to take such actions in cooperation with the URA and any participating taxing bodies in furtherance of the development of an acceptable TIF Plan that will be brought before the Council and to schedule and conduct any and all public hearings required by the Act to permit public comment prior to final approval and implementation of any TIF Plan.
Section 5. Other Actions
The proper officers of the County are hereby authorized and directed to take such other actions and to execute such other documents as may be necessary or proper to carry out the intent and purpose of this Resolution.
Section 6. Non-binding
This resolution is non-binding on the County. The County's participation in the TIF Committee shall not in any way be construed as constituting approval, acceptance, or endorsement of the TIF Plan. The County reserves the right to opt out of participation in any phase of the TIF Plan at any time, with or without cause.
Section 7. 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 8. Repealer. Any Resolution or Ordinance or part thereof conflicting with the provisions of this Resolution is hereby repealed so far as the same affects this Resolution.
SUMMARY OF LEGISLATION
EASTSIDE V RESOLUTION
SUBMITTED FOR COUNCIL MEETING OCTOBER 21, 2008
The Urban Redevelopment Authority of Pittsburgh (the “URA”) is working with a developer (currently Eastside V, LP) to construct a commercial development and necessary public infrastructure improvements (the “East Liberty Gateway Project”) situated within the East Liberty Neighborhood of the City of Pittsburgh. The proposed development will include a 160,000 square foot Target Department Store. TIF proceeds will be used to fund a portion of the costs associated with public infrastructure, including streetscape improvements, public space and improvements to Penn Circle. Total engineering and construction costs, including the private development, are estimated at $45.3 million.
The URA requests that the County of Allegheny Council:
(a) consider a resolution of intent to explore the use of Tax Increment Financing (“TIF”)
to fund a portion of the cost of the East Liberty Gateway Project; and
(b) appoint the Director of Economic Development, or his designee, as representative
to the TIF Committee to work with the URA in preparing the TIF Plan.