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Resolution authorizing the adoption of the East Liberty Transit Revitalization Investment District Phase II Implementation Plan and related agreements.
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Whereas, the Transit Revitalization Investment District Act, Act of Dec. 8, 2004, P.L. 1801, No. 238 ("Act"), provides local taxing bodies with authority to cooperate in establishing transit oriented development and value capture areas, as defined in the Act, within their respective jurisdictions to increase the tax base and improve the general economy of their communities; and
Whereas, pursuant to the Act, the Urban Redevelopment Authority of Pittsburgh ("Authority") is legally empowered to prepare transit revitalization investment ("TRID") plans to provide financing for local, county and regional economic development and revitalization activities through private sector investment, reinvestment and joint development activities in conjunction with public transportation improvements in TRID districts located in the City of Pittsburgh ("City") and to present such TRID plans to the City, the School District of Pittsburgh ("School District"), and Allegheny County ("County") for consideration; and
Whereas, the County, the School District and the City each, respectively, plan to adopt resolutions endorsing the concept of a TRID Phase II Implementation Plan ("Phase II TRID Plan") to fund a part of the costs necessary to implement public and private improvements and maintenance to facilitate the continued redevelopment of portions of the East Liberty area (the "TRID Project") and leveraging the increased value of the proposed subprojects (the "Subprojects") in accordance with a detailed Phase II TRID Plan in connection with the same; and
Whereas, continued redevelopment of the TRID District is necessary to revitalize economic development within the TRID District; and
Whereas, the Authority, working with the designated representatives of the City, the County and the School District, adopted ...
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