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A Resolution of the Council of the County of Allegheny revising the boundaries of the North Shore Tax Increment Financing District and authorizing related agreements.
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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, the North Shore Tax Increment Financing Plan (the "TIF Plan") prepared by the Urban Redevelopment Authority of Pittsburgh (the "Authority") was approved by the County of Allegheny (the "County") by resolution of October 5, 1995 and by the School District of Pittsburgh (the "School District") by resolution of September 25, 1995; and
Whereas, as of November 13, 1995, the City of Pittsburgh (the "City" and, together with the County and the School District, the "Taxing Bodies") approved and adopted the TIF Plan and created the North Shore Tax Increment Financing District (the "TIF District"); and
Whereas, pursuant to the TIF Plan, the Taxing Bodies and the Authority entered into a Cooperation Agreement Regarding North Shore Tax Increment Financing District dated as of March 1, 1996 (the "Cooperation Agreement"); and
Whereas, the Cooperation Agreement contemplates that the Authority may propose such amendments to the TIF Plan, the TIF District and the Cooperation Agreement as it deems advisable but no such amendment shall be effected until approved by each of the Taxing Bodies and the Authority; and
Whereas, upon review of the boundaries of the TIF District and the status of the projects contemplated by the TIF Plan, the Authority has determined that there are a number of parcels included in the TIF District for which no portion of the tax revenues generated by or attributable to such parcels has been pledged to secure th...
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