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A Resolution of the Council of the County of Allegheny extending the duration of time for the exemption of certain taxes within a specified geographic area designated as a Keystone Opportunity Zone within the Township of Neville, Allegheny County.
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Whereas, the County of Allegheny (the “County”) recognizes the need to encourage investment in a defined geographic area described as set forth in Exhibit A, hereinafter the “Keystone Opportunity Zone,” that is experiencing economic distress; and
Whereas, the Keystone Opportunity Zone and Keystone Opportunity Expansion Zone Act, as amended by Act 79 of 2008 (the “Act”) authorizes political subdivisions to apply to the Pennsylvania Department of Community and Economic Development (“DCED”) for an extension of time that an area may be designated as a Keystone Opportunity Zone (“KOZ”) within the respective political subdivision and, as a precondition of such application, to enact a binding resolution that provides, within the designated and approved geographic area, exemptions, deductions, abatements or credits from all local taxes identified in the Act, which resolutions will be contingent upon DCED's approval of the application; and
Whereas, extension of the duration of the KOZ will support redevelopment of a vacant former industrial site within the Township.
The Council of the County of Allegheny hereby resolves as follows:
Section 1. Incorporation of Preamble.
The provisions set forth in the preamble to this Resolution are incorporated by reference in their entity herein.
Section 2. Proposed KOZ Boundary.
The County does hereby find that the specific geographic area situated in the Township of Neville bounded and described in Exhibit A attached hereto, which area is referred to herein as the proposed Keystone Opportunity Zone, constitutes an unoccupied property under the Act.
Section 3. KOZ Application.
The County will participate with the Township of Neville and Cornel...
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