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Resolution authorizing the Redevelopment Authority of Allegheny County to pursue a tax increment financing proposal for The Mills Corporation Development Project in Frazer Township.
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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 is legally empowered to prepare a Tax Increment Financing ("TIF") Plan to provide financing for the elimination and prevention of the development or spread of blight within specified tax increment districts located in the County of Allegheny and to present such TIF Plan to the County of Allegheny (the "County") for its consideration; and
WHEREAS, a preliminary proposal has been presented to the County by Mills Corporation (the "Developer") for the TIF financing the cost of certain public infrastructure and other improvements (the "Project") within the jurisdiction of the County in Frazer Township; and
WHEREAS, it is expected that the County may 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 Proposal is fully dependent on the cooperation and participation of all local taxing bodies, namely the County of Allegheny, Frazer Township, and the Deer Lakes School District.
WHEREAS, the developer has committed to use good faith efforts to ensure public improvements and benefits to the community as a whole from the development.
Be it resolved by the Council of Allegheny County as follows:
Section 1.
The TIF co...
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