Title
A Resolution of the Council of the County of Allegheny authorizing pursuit of a Tax Increment Financing plan in the City of Pittsburgh, Allegheny County, Pennsylvania.
Body
Whereas, Pennsylvania's Tax Increment Financing Act, 53 P.S. §6930.1 et seq., (the “Act”) provides local taxing bodies authority to cooperate in providing financing for development of blighted areas within their respective jurisdictions in order to increase the tax base, provide new employment opportunities and improve the general economy; and
Whereas, under the Act the Urban Redevelopment Authority of Pittsburgh (“URA”) may prepare a Tax Increment Financing (“TIF”) Plan to provide financing for the elimination and prevention of the development or spread of blight within designated tax increment districts located within the City of Pittsburgh (the “City”) and to present such Plan to the Allegheny County Council (the “Council”) for consideration; and
Whereas, a developer is working to construct a commercial development and necessary public infrastructure improvements (the “East Liberty Gateway Project”) situated within the East Liberty Neighborhood of the City; and
Whereas, Allegheny County (the “County”) is expected to benefit from the use of tax increments to pay certain project costs as defined by the Act, by stimulation of private investment, increases in property values, creation of employment opportunities and improvement of surrounding properties; and
Whereas, the implementation of any TIF Plan is fully dependent on the cooperation and participation of all local taxing bodies, namely the City, the County, and the School District of Pittsburgh (the “School District”); and
Whereas, the respective governing bodies of the City and the School District are expected to pass resolutions designating representatives to work on the TIF Committee and cooperate in implementing a TIF Plan with respect to the East Liberty Gateway Project.
The Council of the County of A...
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