title
A Resolution of the Council of the County of Allegheny adopting and authorizing participation in a tax increment financing plan presented by the Urban Redevelopment Authority of Pittsburgh, and authorizing related agreements for financing a portion of the costs of public infrastructure and other necessary public improvements for a new mixed-use development to be located within a portion of Redevelopment Area No. 44 - Market Stanwix / Downtown Triangle known as the Fifth and Market TIF District.
body
Whereas, Pennsylvania's Tax Incremental Financing Act (53 P.S. §6930.01 et seq., as amended) (the “TIF 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 TIF 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”), the City and the School District of Pittsburgh (the “School District”), have each adopted resolutions on January 17, 2006, January 24, 2006 and January 25, 2006, respectively, endorsing the concept of and agreeing to participate in a TIF plan for financing a portion of the costs of public infrastructure and other necessary public improvements to support a new mixed-use development that will provide additional office space, a hotel and residences in the City's central business district (the “TIF Project”); and
Whereas, the Authority, working with the designated representatives of the County, the City and the School District, has adopted and recommended a Tax Increment Financing Plan (the “Project Plan”) in accordan...
Click here for full text