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Resolution of the County of Allegheny Regarding Tax Increment Financing Plan presented by the Redevelopment Authority of Allegheny County, creating the Frazer Mills Tax Increment Financing District, and making certain findings.
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Whereas, Pennsylvania’s Tax Increment Financing Act (Act of July 11, 1990, P.L. 465, No. 113) (the “Act”) provides local taxing bodies 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 Redevelopment Authority of Allegheny County (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 County and to present such Proposal to the County for its consideration; and
Whereas, the Township of Frazer (the “Township”) and the Deer Lakes School District (the “School District”) have each adopted resolutions agreeing to participate in a TIF plan for financing certain of the costs of construction of roadway and related public infrastructure improvements within the Township, including, without limitation, an interchange at Route 28 and a bridge over Route 28, and sanitary sewer, erosion control, pavement, lighting, signals, relocation of roadways, and improvements to local roads (the “TIF Project”) to be located in the Frazer Mills Redevelopment Area and identified as the Frazer Mills TIF District (the “TIF District”), requesting the Authority to prepare a detailed TIF proposal and designating the representatives to work with the Authority, the Township and the School District toward development and implementation of a TIF plan; and
Whereas, the Authority, working with the designated representatives of the County, the Township and the School District, has adopted a project plan in accordance with the requirements of the Act; and
Whereas, the Act provides for the cooperation of 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 enacts as follows:
Section 1.
The Tax Increment Financing Plan (the “Project Plan”) prepared by the Redevelopment Authority of Allegheny County and filed with the County Manager for financing certain of the costs of construction of roadway and related public infrastructure improvements within the Township, including, without limitation, an interchange at Route 28 and a bridge over Route 28, and sanitary sewer, erosion control, pavement, lighting, signals, relocation of roadways, and improvements to local roads in the Frazer Mills TIF District is hereby adopted and the TIF District specifically described in the Project Plan is hereby created.
Section 2.
The boundaries of the TIF District shall be as identified in the Project Plan and shall include only those whole units of property assessed or assessable for general property tax purposes.
Section 3.
The TIF District is created as of December 31, 2002 and shall continue in existence for a period of twenty years from the date of its creation.
Section 4.
The name of the TIF District shall be the “Frazer Mills Tax Increment Financing District”.
Section 5.
After due consideration, the County finds as follows:
(a) The TIF District is a contiguous geographic area within a redevelopment area;
(b) the improvement of the area is likely to enhance significantly the value of substantially all of the other real property in the TIF District;
(c) the aggregate value of equalized taxable property of the TIF District, plus all existing tax increment districts, does not exceed 10% of the total value of equalized taxable property within the County;
(d) the area comprising the TIF District as a whole has not been subject to adequate growth and development through investment by private enterprise and would not reasonably be anticipated to be adequately developed without the adoption of the Project Plan;
(e) a feasible method exists for the compensation of individuals, families and small businesses, if any, that may be displaced by the TIF Project and for their relocation to decent, safe and sanitary dwelling accommodations within their means, without undue hardship to such individuals, families and businesses;
(f) the Project Plan conforms to the County’s master plan;
(g) the Project Plan will afford maximum opportunity, consistent with the sound needs of the community as a whole, for the rehabilitation or redevelopment of the TIF District by private enterprise; and
(h) the TIF District is a blighted area containing characteristics of blight as described in the Urban Redevelopment Law and the TIF Project to be undertaken is necessary to eliminate such conditions of blight.
Section 6.
Seventy-five percent (75%) of all real estate tax revenues in excess of the base taxes on the date of creation of the TIF District that are due, owing, and received by the County from the parcels within the TIF District are hereby pledged, and a security interest is hereby granted, to secure the repayment of any debt incurred by the Authority for the purpose of financing public infrastructure improvements included in the TIF Project.
Section 7.
The appropriate public officials of the County are hereby directed to take such additional action in cooperation with the Authority, the Township 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 County, the Authority, the Township and the School District.
Section 8. 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 9. 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.
Enacted in Council, this _______day of ____________________, 2002,
Council Agenda No.__________________
_______________________________
James E. Simms
President of Council
Attest: ________________________________
John Mascio
Chief Clerk of Council
Approved as to form: _______________________________
George Janoscko
Acting County Solicitor
Chief Executive Office ___________________________, 20_____.
Approved: _______________________________
James C. Roddey
Chief Executive
Attest: __________________________________
Victoria Spence
Executive's Secretary