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A resolution of the County Council of Allegheny authorizing the development of a Tax Increment Financing Plan for the Terminal Building for
Smallman Street in the Strip District of the City of Pittsburgh.
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Whereas, Pennsylvania's Tax Increment Financing Act, 53 P.S. §§ 6930 et seq. (the “Act”), provides local taxing bodies the 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 (the “Authority”) is legally empowered to prepare a Tax Increment Financing (“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 (the “City”); and
Whereas, on May 2, 2017 and effective May 8, 2017, the City passed resolution 2017-1315 for the tax increment financing of certain commercial development and infrastructure improvements for
Smallman Street between 16th and 21st Streets in the Strip District of the City of Pittsburgh;
Whereas, the County of Allegheny is expected to benefit from the use of tax increment financing for this project 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 Plan is fully dependent on the cooperation and participation of all local taxing bodies, namely, the City, 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 incorporated by reference in their entirety herein.
Section 2. Terms Defined.
Terms used in the Recitals to these Resolutions are herein used as therein d...
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