Presenter
Presented by Ms. Carlisle
Title
Resolution revising the boundaries of the Center Triangle TIF District. (Council District 6).
Body
Whereas, Pennsylvania's Tax Increment Financing Act, 53 P.S. ยง 6930.1 et seq. (the "Act"), provides local taxing bodies the legal authority to cooperate in providing financing for the development of blighted areas within their respective jurisdictions in order to increase the tax base and improve the general economy; and
Whereas, the "Tax Increment Financing Plan - New Lazarus Department Store and Penn Avenue Place" (the "1995 TIF Plan") prepared by the Urban Redevelopment Authority of Pittsburgh (the "Authority") was approved by the County of Allegheny (the "County") by resolution of October 19, 1995 and by the School District of Pittsburgh (the "School District") by resolution of October 25, 1995; and
Whereas, as of December 1, 1995, the City of Pittsburgh (the "City" and, together with the County and the School District, the "Taxing Bodies") approved and adopted the 1995 TIF Plan and created the Center Triangle Tax Increment Financing District (the "Original District"); and
Whereas, the Original District was expanded by Amendment No. 1 and Amendment No. 2 in connection with the 1998 Center Triangle Tax Increment Financing Plan and the 1999 Center Triangle Tax Increment Financing Plan (together with the 1995 TIF Plan, and as any same have been heretofore amended, the "TIF Plans"), and certain parcels were subsequently removed by resolution of the City effective December 4, 2003, as approved by the School District, the Authority and the County by resolutions dated September 24, 2003, October 9, 2003 and October 21, 2003, respectively (as heretofore amended, the "TIF District"); and
Whereas, pursuant to the TIF Plans, the Taxing Bodies and the Authority entered into a Cooperation Agreement Regarding Center Triangle Tax Increment Financing District dated as of December 1, 1995, which was amended by the Coope...
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