title
A Resolution of the County of Allegheny adopting the Bakery Square Tax Increment Financing Plan presented by the Urban Redevelopment Authority of Pittsburgh, and authorizing related agreements.
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Whereas, Pennsylvania's Tax Incremental Financing Act (53 P.S. §6930.01 et seq., as amended) (the "Act") provides local taxing bodies with 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 Plan (the "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 City of Pittsburgh (the “City”); and
Whereas, the County of Allegheny (the “County”), the School District of Pittsburgh (the “School District”) and the City have each adopted resolutions on November 21, 2006; January 24, 2007; and November 7, 2006 respectively, endorsing the concept of a TIF Plan to fund a portion of the costs of construction of public infrastructure and other necessary public improvements to facilitate the redevelopment of the former Nabisco Bakery located on Penn Avenue in the Larimer Neighborhood of the City (the “TIF Project”) and authorizing the Authority to prepare a detailed TIF Plan; and
Whereas, the Authority, working with the designated representatives of the City, the County, and the School District, has adopted a TIF Plan in accordance with the requirements of the Act, providing for the creation of the Bakery Square TIF District (the “TIF District”) and the financing a portion of the costs of the TIF Project; and
Whereas, the Act provides for the cooperation of local taxing bodies in the financing of projects within TIF Districts (including publicly owned infrastructure...
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