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A Resolution of the County of Allegheny, Commonwealth of Pennsylvania, repealing Resolution No. 26-03-RE enacted by County Council at Council Agenda Number 1154-03 and enacting a new Resolution satisfying requirements of the Commonwealth of Pennsylvania by providing for a contingent exemption from Allegheny County-levied real estate and sales/use taxes for a specific area in the County of Allegheny designated as a Keystone Opportunity Subzone in order to foster economic opportunities, stimulate industrial, commercial, and residential improvements and to prevent physical and infrastructure deterioration within areas of the City of Pittsburgh
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WHEREAS, the Pennsylvania Keystone Opportunity Zone and Keystone Opportunity Expansion Act, as amended by Act 217 of 2002, hereinafter referred to as "the Act”, authorizes local governments, including counties, to apply to the Commonwealth of Pennsylvania's Department of Community and Economic Development, hereinafter referred to as “DCED,” for designation of certain areas within their respective political boundaries as a Keystone Opportunity Subzone and, as a precondition of such application, to enact an Ordinance or Resolution which provides within the designated and approved Keystone Opportunity Subzone exemptions, deductions, abatements, or credits from all local taxes identified in the Act, which Ordinance or Resolution will be contingent only upon DCED's approval of the application; and,
WHEREAS, the County of Allegheny recognizes the need to encourage investment within a certain area spanning the City of Pittsburgh, identified more specifically in the attached hereto marked Exhibit “A”, hereinafter referred to as the “Proposed Keystone Opportunity Subzone,” which has experienced economic distress characterized by high unemployment, low investment of new capital, blighting conditions and underutilized, obsolete or abandoned industrial, commercial and residential structures; and,
WHEREAS, t...
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