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Motion of the Council of Allegheny County requiring that representatives of the Sports and Exhibition Authority and Department of Economic Development be required to attend a meeting of the Committee on Economic Development and Housing in order to provide full information on the source(s) of any state capital funding to be advanced for the purpose of beginning site acquisition for a new multi-purpose arena, together with a complete disclosure of the intended uses, proposed repayment methods and schedules, and other terms attendant to the advance of state funding.
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WHEREAS, the City of Pittsburgh and Allegheny County have reportedly requested that Governor Ed Rendell advance $25 million to $30 million in state capital funding, to eventually be reimbursed through gambling revenues, to begin site acquisition for a new multi-purpose facility within the City of Pittsburgh; and
WHEREAS, although the state money would reportedly be paid back either through the pledged contribution from the winning casino bidder or through a slots-related economic development fund to be set up by the state, there has been no indication as of yet what funds would be used for the initial $25 to $30 million advance;
NOW THEREFORE, IT IS MOVED, BY THE COUNCIL OF ALLEGHENY COUNTY,
That representatives from the Sports and Exhibition Authority and the Allegheny County Department of Economic Development be required to attend a meeting of the Committee on Economic Development and Housing, to be held within 30 days of passage of this Motion, in order to provide full information on the source(s) of the state capital funding advance, together with a complete disclosure of the intended uses, proposed repayment methods and schedules, and other terms attendant to the advance of state funding.