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
BODY
Whereas, Pennsylvania's Tax Increment Financing Act, 53 P.S. ยง 6930 et seq. (the "Act"), provides local taxing bodies the 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 City, the County of Allegheny (the "County") and the School District of Pittsburgh (the "School District") (the County, the City, and the School District collectively are referred to as the "Taxing Bodies") previously adopted the Penn Liberty Plaza Tax Increment Financing District Tax Increment Financing Plan (the "Penn-Liberty TIF Plan"), and the City created the Penn Liberty Plaza Tax Increment Financing District (the "Penn-Liberty TIF District") located in the Strip District Redevelopment Area to help fund the construction of a parking facility (the "Original Project") to support Penn Liberty Plaza I, a development adjacent to an existing Greyhound bus terminal site located between Penn and Liberty Avenues in the Convention Center Redevelopment Area of downtown Pittsburgh; and
Whereas, the tax increment financing contemplated by the Penn-Liberty TIF Plan did not occur and the Original Project has not been constructed; and
Whereas, the Public Parking Authority of Pittsburgh (the "PPA") desires to develop an intermodal transportat...
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