Presenter
Presented by Mr. Dowd
Title
Resolution authorizing the Urban Redevelopment Authority of Pittsburgh to pursue a tax increment financing proposal for portions of the Summerset at Frick Park Redevelopment Area (pending certification). (Council District 5).
Body
Whereas, Pennsylvania's Tax Increment Financing Act (53 P.S. ยง 6930.01 et seq., as amended) (the "Act") provides local taxing bodies 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 Act, the Urban Redevelopment Authority of Pittsburgh is legally empowered to prepare a tax increment financing proposal ("TIF Proposal") to provide financing 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 Allegheny County (the "County") and to present such proposal to the City for its consideration; and
Whereas, the URA, with the assistance of Summerset Land Development Associates, L.P. (the "Developer"), desires to pursue Phases 2B, 2C and 3 of a commercial and residential community, known as "Summerset at Frick Park" to be located in the Squirrel Hill South and Swisshelm Park neighborhoods of the City (the "Development"); and
Whereas, the URA is in the process of certifying an area encompassing the proposed Development site as a "Redevelopment Area" pursuant to the Pennsylvania Urban Redevelopment Law, as amended, and to be identified as the "Summerset at Frick Park Redevelopment Area"; and
Whereas, Phase 2B and 2C of the Development are expected to include the construction, lease and sale of approximately 83 single family residential units, 41 townhomes, 132 condominiums or apartments and an approximately 30,000 square foot commercial retail space, and Phase 3 of the Development is expected to include approximately 102 single family residential units, 37 townhomes and 78 condominiums or apartments (collectively, "Phases 2B/2C and 3"); and
Whereas, in connection with Phases 2B/2C and 3, the Developer and/or appropriate public agency will prepare and construct necessary public infrastructure improvements for the Development, which may include among other things, grading, road and bridge construction, environmental remediation and the construction of new water, sewer and storm water infrastructure (the "Summerset at Frick Park Project") in the Squirrel Hill South and Swisshelm Park neighborhoods of the City; and
Whereas, the City is expected to benefit from the use of tax increments to pay certain project costs as defined in the Act, relating to the Summerset at Frick Park Project, by stimulation of private investment, increases in property values, creation of employment opportunities and improvement of surrounding properties; and
Whereas, the implementation of any TIF Proposal is fully dependent on the cooperation and participation of all local taxing bodies, namely, the City, the School District of Pittsburgh (the "School District") and the County.
Be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. The TIF concept for financing the cost of certain residential and commercial development and public infrastructure improvements in portions of the Summerset at Frick Park Project is endorsed and the URA is requested to prepare a detailed TIF Proposal for portions of the Summerset at Frick Park Project, as required by the Act.
Section 2. The respective governing bodies of the County and the School District will be notified of this action and requested to undertake similar favorable consideration and cooperation in implementing a TIF Proposal with respect to portions of the Summerset at Frick Park Project, as required by the Act.
Section 3. The appropriate public officials of the City are hereby directed to take such actions in cooperation with the URA and any participating taxing bodies in furtherance of the development of an acceptable TIF Proposal that will be brought before this Council and to schedule and conduct any and all public hearings required by the Act to permit public comment prior to final approval and implementation of any TIF Proposal.
Section 4. The Director of Finance, or his designee, is hereby designated as the City's representative to serve on the tax increment financing committee and to work with the URA in preparing the TIF Proposal.
Section 5. If any provision of this Resolution shall be determined to be unlawful, invalid, void or unenforceable, then that provision shall be considered severable from the remaining provisions of this Resolution which shall be in full force and effect.
Section 6. Any Ordinance or Resolution or part thereof conflicting with the provisions of this Resolution is hereby repealed in so far as the same affects this Resolution.