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A Resolution providing for a program of temporary exemption from county real property taxes for improvements, including repairs, construction, or reconstruction, made on industrial, commercial or business property in a deteriorated area in the Town of McCandless, County of Allegheny, Commonwealth of Pennsylvania, pursuant to the Local Economic Revitalization Tax Assistance Act, Pa. Stat. Ann. Tit. 72 §4722 et seq.
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Whereas, The Local Economic Revitalization Tax Assistance Act (“LERTA”), Pa. Stat. Ann. Tit. 72 §4722 et seq., authorizes local taxing authorities to exempt from real estate taxation, for specific periods, the assessed valuation of improvements to deteriorated industrial, commercial and other business property; and
Whereas, the Town Council (“Council”) of the Town of McCandless (“Town”) conducted a public hearing to determine and designate the geographic boundaries of a deteriorated area located within the Town; and
Whereas, AdVenture Development, LLC (“AdVenture”) has proposed to construct a one million (1,000,000) square foot mixed-use project within the deteriorated area of the Town (the “Project”); and
Whereas, AdVenture is expected to utilize the LERTA as a mechanism to finance certain infrastructure improvements to facilitate construction of the Project; and
Whereas, the Council has established the boundaries of the deteriorated area as more specifically set forth in Attachment “A” hereto (hereinafter the “Deteriorated Area”) and adopted the temporary exemption program; and
Whereas, the Board of School Directors (“School Directors”) of the North Allegheny School District (“School District”) have also adopted the temporary exemption program; and
Whereas, the Town has requested the County of Allegheny to enact similar legislation; and
Whereas, the County Council finds that the implementation of a temporary tax exemption program in certain designated deteriorated areas would contribute to the general wel...
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