title
A Resolution of the County Council of Allegheny County enacted pursuant to Section 6930.5 (7) of Pennsylvania Tax Increment Financing Act declaring that the County of Allegheny will not participate in a Tax Increment Financing district for the proposed “The Block at North Tax Increment District” located in the Township of Ross.
body
WHEREAS, the Pennsylvania Tax Increment Financing (“TIF”) Act (the “Act”) allows municipalities within the Commonwealth to finance the costs of redevelopment projects through the issuance of debt support by incremental increases in real estate taxes; and
WHEREAS, the Township of Ross (the “Municipality”) and the North Hills School District (the “School District”) have formed a committee to determine whether tax increment financing shall be made available to assist in the redevelopment of certain parcels of real property within the Municipality; and
WHEREAS, the Butler County Industrial Redevelopment Authority (the “Authority”), the Municipality and the School District have prepared a plan (the “TIF Plan”) for the proposed “The Block at North Tax Increment District” located in the Municipality (the “Redevelopment Area”) in accordance with the requirements of the Act; and
WHEREAS, the TIF Plan contemplates the allocation of certain projected increases in real estate taxes payable to the Municipality and to the School District to the payment of costs of infrastructure improvements to be completed within a TIF district in the Redevelopment Area; and
WHEREAS, Section 6930.5 (7) of the Act specifically requires that the governing body of any municipality which levies property taxes within the boundaries of a proposed TIF district, adopt a resolution signifying its election to either participate or not participate in the proposed TIF district; and
WHEREAS, the Municipality and the School District have agreed that no request will be made to Allegheny County to be a participant in the TIF Plan or its financing.
The Council of th...
Click here for full text