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 structured parking facilities and other necessary public improvements and infrastructure in a new development to be located within a portion of Redevelopment Area #50 - J & L Second Avenue (West Oakland) known as the Pittsburgh Technology Center TIF District .
body
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 ("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 respectively adopted resolutions on November 1, 2005, October 4, 2005 and October 26, 2005 endorsing the concept of, and agreeing to participate in, a TIF plan for financing a portion of the costs of structured parking facilities and other necessary public improvements and infrastructure to support up to an additional 1.1 million square feet of new development to be located within a portion of Redevelopment Area #50 - J & L Second Avenue (West Oakland) known as the Pittsburgh Technology Center TIF District (the “PTC TIF District”), requesting the Authority to prepare a detailed TIF Proposal and designating the County's repre...
Click here for full text