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A Resolution of the Council of the County of Allegheny authorizing the Urban Redevelopment Authority of Pittsburgh to pursue a Tax Increment Financing (TIF) proposal for portions of Redevelopment Area No. 50 - J & L Second Avenue.
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Whereas, Pennsylvania's Tax Incremental Financing Act (53 P.S. ยง6930.01 et seq., as amended) (the "Act") provides local taxing bodies 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 is legally empowered to prepare a 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 and to present such proposal to the County of Allegheny for its consideration; and
Whereas, the Urban Redevelopment Authority of Pittsburgh is working to develop structured parking facilities and the necessary infrastructure to support up to an additional 950,000 square feet of new development at the Pittsburgh Technology Center in the Oakland area of the City of Pittsburgh (the "Project"); and
Whereas, the County of Allegheny is expected to benefit from the use of tax increments in portions of Redevelopment Area No. 50 - J & L Second Avenue by stimulation of private investment, increases in property values, creation of employment opportunities, and improvement of surrounding properties; and
Whereas, the implementation of any TIF Proposal is fully dependent on the cooperation and participation of all local taxing bodies, namely, the City of Pittsburgh, the School District of Pittsburgh, and the County of Allegheny.
The Council of the County of Allegheny hereby resolves as follows:
Section 1. Incorporation of the Preamble.
The provisions set forth in the preamble to this Resolution are inco...
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