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An Ordinance of the County of Allegheny, Commonwealth of Pennsylvania, amending and supplementing the Allegheny County Code of Ordinances, Division 4, entitled "Finances," by the creation of a new Article 480 entitled "Tax Increment Financing," in order to establish a uniform process for periodically reviewing the County's Tax Increment Financing activities.
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WHEREAS, the County approves participation in Tax Increment Financing ("TIF") programs several times each year; and
WHEREAS, TIF programs entail the use of a portion of the property tax revenue that would ordinarily be paid on a developed parcel to pay for certain infrastructure improvements to that parcel; and
WHEREAS, in the process of allowing a tax increment to be used in this fashion, the County foregoes revenue that would otherwise be used to pay for County services to all County residents; and
WHEREAS, although the approval of County Council is required for each TIF arrangement, Council does not receive any periodic update regarding the effectiveness or continued utility of previously granted TIFs, nor does Council receive any information regarding the actual impact of any previously granted TIFs on economic development; and
WHEREAS, it is the desire of Council to establish a mechanism for reviewing the effectiveness, utility and continuing desirability of TIF arrangements;
The Council of the County of Allegheny hereby enacts as follows:
SECTION 1.
The Allegheny County Code of Ordinances, Division 4, entitled "Finances," is hereby amended by the creation of a new Article 480 entitled "Tax Increment Financing," comprised as follows:
ยง480-01. Tax Increment Financing Reports.
A. No later than January 31 of each calendar year, the County Manager and Department of Economic Development shall provide County Council with a Tax Increment Financing Report. This report shall specifically delineate each TIF district in effect within Allegheny County at the time t...
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