TITLE
Resolution of the Council of the County of Allegheny authorizing, adopting and authorizing participation in a Tax Increment Financing Plan presented by the Urban Redevelopment Authority of Pittsburgh, and Authorizing Related Agreements. (LUNA SQUARE)
BODY
Whereas, Pennsylvania's Tax Increment Financing Act, 53 P.S. ยง 6930 et seq. (the "Act"), provides local taxing bodies the 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 Urban Redevelopment Authority of Pittsburgh (the "Authority") is legally empowered to prepare a Tax Increment Financing ("TIF") proposal to provide financing for the elimination and prevention of the development or spread of blight within specified tax increment districts located in the City of Pittsburgh (the "City"); and
Whereas, the County of Allegheny (the "County") by Resolution No. 21-03-RE , Bill No 1108-03 has adopted, and the City and the School District of Pittsburgh (the "School District") have each adopted resolutions endorsing the concept of, and agreeing to participate in, a TIF plan for financing a portion of the costs of constructing certain public infrastructure improvements and a parking garage expected to contain approximately 1,500 parking spaces in connection with a mixed use development (the "TIF Project") to be located in a portion of the Baum Boulevard/Centre Avenue Redevelopment Area called the Baum/Millvale TIF District (the "TIF District"), requesting the Authority to prepare a detailed TIF Proposal and designating the County's representative to work with the Authority, the County, the City and the School District toward development and implementation of a TIF plan with respect to the TIF District; and
Whereas, the Authority, working with the designated representatives of the City, the County and the School District, ...
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