Dear Councilmen,

 

During 2002, the County of Allegheny enacted Ordinance No. 38-02 authorizing lease rental debt in an aggregate principal amount not to exceed $65 million by entering into a Guaranty Agreement with the Allegheny County Industrial Development Authority.  The County agreed to guaranty the payment of debt service on the Authority’s bond issue for the construction of a new 8 story building that was be used for office space for the Department of Human Services and laboratory space for the Coroner’s office.  Ordinance No. 38-02 was later amended by Resolution Number 55-02.

 

As you are aware, the County has decided not to go forward with the construction of the new building and will pursue other options.  As a result, the county submitted Bill No 1626-04 entitled, “An Ordinance of the County of Allegheny amending the debt ordinance enacted September 10, 2002 and numbered 38-02, as amended October 8, 2002, by Resolution Number 55-02”.  The Bill was introduced at the July 6^th meeting and referred to the Budget & Finance Committee. 

 

This bill will change the purpose of the original bond issue to include the “purchase of existing buildings, construction of new structures and improving infrastructure, and the improvement, renovation, repair, furnishing and equipping of new or existing buildings located within the geopolitical boundaries of the County to be used by the County as office space, or otherwise”.

 

It is respectfully requested that this bill be placed on the agenda of the July 13^th Budget & Finance Committee meeting and, if approved by the committee, be brought before the general County Council meeting on July 13^th.

 

I will be available at the Budget & Finance Committee meeting on the 13^th to answer any questions that you may have.

 

Thank you in advance for your consideration.

 

Jim Flynn

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Allegheny County Industrial Authority is seeking to change the purpose of the bond