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A Resolution of the County of Allegheny agreeing to participate in a Transit Revitalization Investment District ("TRID") Plan for Phase II of the Easty Liberty Project and authorizing related agreements.
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Whereas, the Transit Revitalization Investment District Act, Act of Dec. 8, 2004, P.L.1801, No. 238 (the “Act”), provides local taxing bodies with authority to cooperate in establishing transit oriented development and value capture areas, as defined in the Act, within their respective jurisdictions to increase the tax base and improve the general economy of their communities; and
Whereas, pursuant to the Act, the Urban Redevelopment Authority of Pittsburgh (“Authority”) is legally empowered to prepare transit revitalization investment plans to provide financing for local, county and regional economic development and revitalization activities through private sector investment, reinvestment, and joint development activities in conjunction with public transportation improvements in TRID districts located in the City of Pittsburgh and to present such TRID plans to the City of Pittsburgh (“City”), the School District of Pittsburgh (“School District”), and the County of Allegheny (“County”) for consideration; and
Whereas, the Authority, working with the designated representatives of the City, the County, and the School District adopted a Phase II TRID Implementation Plan (“Phase II TRID Plan”), attached hereto as Exhibit A, in accordance with the requirements of the Act, providing for the continued redevelopment of the East Liberty TRID District (the “TRID District”) and the financing of a portion of the costs of the Phase II TRID Project; and
Whereas, the County, the School District, and the City each, respectively, plan to adopt resolutions endorsing the concept of a Phase II TRID Plan to fund a part of the costs necessary to implement public and private improvements and maintenance to facilitate the redevelopment of portions of the East Liberty area...
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