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A Resolution of the Council of the County of Allegheny adopting and authorizing participation in the Smallman Street Tax Increment Financing Plan, as presented by the Urban Redevelopment Authority of Pittsburgh, and authorizing related agreements.
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Whereas, Pennsylvania's Tax Increment Financing Act, 53 P.S. ยง 6930.1 et seq., as amended (the "TIF 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 TIF Act, the Urban Redevelopment Authority of Pittsburgh (the "Authority") is legally empowered to prepare a Tax Increment Financing ("TIF") proposal to provide 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, the County of Allegheny (the "County"), the City, and the School District of Pittsburgh (the "School District") have each adopted resolutions endorsing the concept of a TIF plan for financing public space and street related right-of-way improvements such as lighting, roadway and walkway improvements (the "TIF Project") in connection with private mixed use office and retail redevelopment projects located at 1600 and 2100 Smallman Street known as the Smallman Street Tax Increment Financing District (the "TIF District"), requesting the Authority to prepare a detailed TIF proposal and designating the County's representative to work with the Authority, the City, the County, and the School District toward implementation of a TIF plan with respect to the TIF District; and
Whereas, the Authority, working with the designated representatives of the City, the County, and the School District, has adopted and recommended a Tax Increment Financing Plan (the "TIF Plan") in accordance with the requirements of the TIF Act, which TIF Plan, ...
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