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File #: 11940-21    Version: 1 Name:
Type: Resolution Status: Approved
File created: 7/9/2021 In control: Committee on Economic Development & Housing
On agenda: 7/13/2021 Final action: 8/24/2021
Title: A Resolution providing for a program of temporary exemption from County real property taxes for improvements, including repairs, construction, or reconstruction, made on industrial, commercial or business property in a Deteriorated Area in the Borough of Etna, County of Allegheny, Commonwealth of Pennsylvania, pursuant to the Local Economic Revitalization Tax Assistance Act, Pa. Stat. Ann. tit. 72 §4722 et seq.
Sponsors: Chief Executive
Attachments: 1. 13-21-RE 11940-21.pdf
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A Resolution providing for a program of temporary exemption from County real property taxes for improvements, including repairs, construction, or reconstruction, made on industrial, commercial or business property in a Deteriorated Area in the Borough of Etna, County of Allegheny, Commonwealth of Pennsylvania, pursuant to the Local Economic Revitalization Tax Assistance Act, Pa. Stat. Ann. tit. 72 §4722 et seq.

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Whereas, The Local Economic Revitalization Tax Assistance Act (“LERTA”), Pa. Stat. Ann. tit. 72 §4722 et seq., authorizes local taxing authorities to exempt from real estate taxation, for specific periods, the assessed valuation of improvements to deteriorated industrial, commercial and other business property; and

Whereas, on May 19, 2021, the Borough Council (“Council”) of the Borough of Etna (“Borough”) conducted a public hearing to determine and designate the geographic boundaries of a Deteriorated Area located within the Borough; and

Whereas, the Council has established the boundaries of a Deteriorated Area as more specifically set forth in Attachment “A” hereto (hereinafter the “Deteriorated Area”) and adopted the temporary exemption program; and

Whereas, the Deteriorated Area is otherwise identified by Lot and Block No. 167-F-190 in the Deed Registry Office of Allegheny County; and

Whereas, 51 Bridge Street, LLC has proposed to rehabilitate and revitalize an 88,600 square foot, three-story industrial building into tech-flex space within the Deteriorated Area, (the “Project”); and

Whereas, under 51 Bridge Street, LLC’s proposal, the industrial building shall be improved by an additional 88,600 square feet of gross building area, 63,600 square feet of which will be industrial space and 25,000 square feet of which will be office space; and

Whereas, 51 Bridge Street, LLC will utilize the LERTA as a mechanism to finance certain infrastructure improvements to facilitate construction of the Project; and

Whereas, the Board of Sc...

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