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A Resolution of the County of Allegheny directing the Redevelopment Authority of Allegheny County ("RAAC") to remit $6.6 million in revenue received from the Pennsylvania Gaming Economic Development and Tourism Fund in 2008, and all future receipts from the Pennsylvania Gaming Economic Development and Tourism Fund to the County of Allegheny, and authorizing the acceptance of such funds for the restricted purpose of constructing and maintaining community development infrastructure projects throughout Allegheny County.
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Whereas, pursuant to the Pennsylvania Race Horse Development and Gaming Act, 4 Pa.C.S.A. §1101, et seq. (the “Act”), the Commonwealth of Pennsylvania established the “Pennsylvania Gaming and Economic Development and Tourism Fund” (the “State Fund”); and
Whereas, in 2007 the Commonwealth adopted the “Pennsylvania Gaming Economic Development and Tourism Fund Capital Budget Itemization Act of 2007"; itemizing projects to be assisted by the Department of Community and Economic Development, together with their estimated financial costs; authorizing recurring payments for certain projects; and making appropriations” (the “State Budget”); and
Whereas, under the provisions of the State Fund and State Budget, for a twelve year period, the State Fund will provide monies to support certain restricted and specified projects, as set forth in greater detail in the Act, within cities and counties of the first and second class; and
Whereas, one of the restricted and specified projects identified in the Act and State Budget is to pay $80 million to a county of the second class “for distribution to a community infrastructure development fund of a county of the second class to fund construction, development, improvement and maintenance of infrastructure projects” 4 Pa.C.S.A. §1407(d)(5); and
Whereas, in April 2006, shortly after the Act was passed, the Redevelopment Authority of Allegheny County (“RAAC”) established the Economic Developm...
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