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A Resolution of the County of Allegheny, Commonwealth of Pennsylvania adopting and authorizing participation in a tax increment financing plan presented by the Urban Redevelopment Authority of Pittsburgh, and authorizing related agreements.
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WhereasHEREAS, Pennsylvania's Tax Increment Financing Act, 53 P.S. § 6930 et seq. (the "Act"), provides local taxing bodies with the 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, under the Act, the Urban Redevelopment Authority of Pittsburgh (the "Authority") is legally empowered to prepare a Tax Increment Financing ("TIF") proposal to provide financing for the elimination and prevention of the development or spread of blight within specified tax increment districts located in the City of Pittsburgh (the "City"); and
Whereas, the County of Allegheny (the "County") by Resolution No. 20-03-RE, Bill No. 1107-03, and the City and the School District of Pittsburgh (the "School District") by their separate resolutions each have endorsed the concept of, and agreed to participate in, a TIF plan for financing a portion of the costs of site work, public infrastructure improvements and related costs (the "TIF Project") in connection with a commercial and residential development which is expected to include the expansion of an existing supermarket to approximately 70,000 square feet, the construction of a residential tower containing approximately 78 apartment units, and the expansion and construction of related parking facilities to be located within a portion of the Baum Boulevard / Centre Avenue Redevelopment Area known as the Centre & Negley Tax Increment Financing District (the "TIF District"), requesting the Authority to prepare a detailed TIF Proposal and designating the County's representative to work with the Authority, the County, the City and the School District toward development and implementation of a TIF plan with respect to the TIF District; and
Whereas, the Authority, working with the designated representatives of the City, the County and the School District, has adopted and recommended a Tax Increment Financing Plan (the "Project Plan") in accordance with the requirements of the Act, which Project Plan, as prepared by the Authority, provides for the financing of a portion of the costs of the TIF Project in connection with a commercial and residential development to be located in a portion the TIF District;
Whereas, the Act provides for the cooperation of the local taxing bodies in the financing of projects within TIF districts and for the issuance of debt to pay for certain of the costs of implementing such plans; and
Whereas, the County is expected to benefit from the use of tax increments to pay certain project costs within the TIF District by stimulation of private investment, increases in property values, creation of employment opportunities and improvement of surrounding properties.
The Council of the County of Allegheny hereby resolves as follows:
Section 1. Adoption of Project Plan.
The Project Plan prepared by the Urban Redevelopment Authority of Pittsburgh, attached hereto as Exhibit A and incorporated herein, providing for financing a portion of the costs of the TIF Project within the TIF District is hereby adopted and the County, in accordance with the Act, hereby agrees to participate in the TIF District to the extent provided for in the Project Plan.
Section 2. Pledge of Revenues.
A portion of the tax revenues due, owing to, or received by the County from the TIF District to the extent described in the Project Plan are hereby pledged, and a security interest therein is hereby granted, to secure the repayment of any debt incurred by the Authority for the purpose of financing the TIF Project.
Section 3. Delivery of Resolution.
The County Manager is directed to deliver a copy of this resolution to the Mayor of the City of Pittsburgh, as provided in the Act.
Section 4. Additional Authority.
The appropriate public officials of the County are hereby directed to take such additional actions in cooperation with the Authority, the City and the School District in furtherance of the implementation of the Project Plan, including without limitation the execution and delivery of a Cooperation Agreement by and among the Authority, the County, the City and the School District subject to the County Manager and County Solicitor approving the form and content of the TIF Cooperation Agreement and Project Plan.
SECTION 5. 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 6. 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.