Presenter
Presented by Ms. Carlisle
Title
Resolution contingently exempting real property tax, earned income tax, net profits tax, mercantile and business privilege tax within a specific geographic area in the City of Pittsburgh, County of Allegheny, Commonwealth of Pennsylvania, designated as an enhancement to the Southwestern Pennsylvania Keystone Opportunity Expansion Zone in order to foster economic opportunities, stimulate industrial, commercial and residential improvements and prevent physical and infrastructure deterioration within areas of Allegheny County, Commonwealth of Pennsylvania. (Council Districts 3, 5, 6, 8 and 9).
Body
Whereas, the City of Pittsburgh, Pennsylvania recognizes the need to encourage investment in areas within a defined geographical and political boundary in the City of Pittsburgh described on Attachment "A", hereinafter the "Enhanced Area," that is experiencing distress characterized by high unemployment, low investment of new capital, blighted conditions, and underutilized, obsolete or abandoned industrial, commercial and residential structures, and deteriorated tax base; and
Whereas, the Pennsylvania Keystone Opportunity Zone and Keystone Opportunity Expansion Act, as amended by Act 217 of 2002, hereinafter referred to as the "Act," authorizes political subdivisions to apply to the Pennsylvania Department of Community and Economic Development (DCED) for designation of an area within the respective political subdivision as an enhancement to an existing Keystone Opportunity Expansion Zone and, as a precondition of such application, to enact a binding resolution that provides within the designated and approved geographic area exemptions, deductions, abatements or credits from all local taxes identified in the Act, which resolution will be contingent only on DCED's approval of the application; and
Whereas, enactment of such exemption will result in improving both the economic, physical, and social conditions within the Enhanced Area by stimulating existing businesses' employment, creating new employment and diminishing blight; and
Whereas, it is expected that increased private and public-sector investors will reverse the disinvestment and conditions of blight within the Enhanced Area by December 31, 2013, being the exemption period for the Keystone Opportunity Expansion Zone; and
Whereas, the School District of Pittsburgh is participating in an application to DCED via the Southwestern Pennsylvania Commission seeking approval of an enhancement to the Southwestern Pennsylvania Keystone Opportunity Expansion Zone.
Be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. Effective as of January 1, 2005 until December 31, 2013, contingent only on DCED's approval of the application for the enhancement of the Southwestern Pennsylvania Keystone Opportunity Expansion Zone, the following provisions shall apply:
1. Real property in the Enhanced Area is exempt from property taxes in accordance with the provisions and limitations hereinafter set forth within the boundaries of the Enhanced Area in accordance with the Act, such exemption to run from January 1, 2005 until December 31, 2013.
2. The exemption shall be 100% of the real property taxation on the assessed evaluation of property within the Enhanced Area.
3. Earned income, net profits taxes, business privilege and mercantile taxes. The School District of Pittsburgh also waives business gross receipts tax for operations conducted by a qualified business; earned income received by a resident and/or net profits of a qualified business received by a resident or nonresident of the Enhanced Area attributable to business activity conducted within the Keystone Opportunity Expansion Zone.
4. The provisions of the Act not herein enumerated, shall, nevertheless, be incorporated as part of this resolution by reference.
5. This resolution shall become effective January 1, 2005, contingent and conditioned on the approval by DCED of the application with respect to the Enhanced Area of the Southwestern Pennsylvania Keystone Opportunity Expansion Zone.
Attachment "A"
Enhanced Area
East Liberty - 7th Ward
Highland Ave S 84-B-68
Houston Street 84-C-55
Penn Ave 84-C-57
Houston Street 84-G-14
Houston Street 84-G-14-01
6032 Stevenson Place 84-G-26
Houston Street 84-G-27
Houston Street 84-G-27-01
Highland Ave S 84-F-183
Ellsworth Ave 84-F-150
Highland Ave S 84-F-156
Ellsworth Ave 84-F-141
Hazelwood - 15th Ward
4847 Second Ave 56-F-115
Hill District - 3rd Ward
5 Heldman Street 11-A-133
7 Heldman Street 11-A-134
17 Heldman Street 11-A-137
19 Heldman Street 11-A-138-A
21 Heldman Street 11-A-138
Rose Street 11-A-123
Clark Street 11-A-124
1833 Rose Street 11-A-127
1831 Rose Street 11-A-129
1844 Rose Street 11-A-167
1840 Rose Street 11-A-166
1842 Rose Street 11-A-166-A
1838 Rose Street 11-A-165
Rose Street 11-A-163
1832 Rose Street 11-A-162
1830 Rose Street 11-A-161
1828 Rose Street 11-A-160
1824 Rose Street 11-A-158
25 Heldman Street 11-A-140
27 Heldman Street 11-A-141
31 Heldman Street 11-A-142
35 Heldman Street 11-A-143
37 Heldman Street 11-A-144
Heldman Street 11-A-145
Heldman Street 11-A-146
41 Heldman Street 11-A-147
43 Heldman Street 11-A-148
1829 Rose Street 11-A-130
1827 Rose Street 11-A-131
1825 Rose Street 11-A-132
1823 Rose Street 11-A-132-A
1821 Rose Street 11-A-132-B
Heldman Street 11-A-135
Kearney Way 11-A-154
Kearney Way 11-A-156
Mount Washington - 18th Ward
Ruth Street 15-C-220