Presenter
Presented by Ms. Carlisle
Title
Resolution authorizing a Cooperation Agreement with the Urban Redevelopment Authority of Pittsburgh designating URA as the City's agent for implementation of federal Brownfields Economic Development Initiative grants and Section 108 loans for the Pittsburgh Technology Center project. (Council District No. 6).
Body
BE IT RESOLVED THAT THE COUNCIL OF THE CITY OF PITTSBURGH HEREBY ENACTS AS FOLLOWS:
Whereas, the U.S. Department of Housing and Urban Development ("HUD") has established the Brownfields Economic Development Initiative ("BEDI") program and the Section 108 loan program to, among other things, stimulate economic development by local governments and private sector parties in brownfields; and
Whereas, the City of Pittsburgh has applied for $3,000,000 in BEDI grants and will apply for up to $11,500,000 in Section 108 loans for the Pittsburgh Technology Center project; and
Whereas, the City desires to designate the Urban Redevelopment Authority of Pittsburgh ("URA") as its agent to implement the Program and to receive funds directly from HUD if the grant and loan are awarded.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF PITTSBURGH AS FOLLOWS:
Section 1. The Mayor is hereby authorized to enter into a Pittsburgh Technology Center BEDI/Section 108 Program Cooperation Agreement with URA, in a form approved by the City Solicitor, designating URA as the City's agent for implementation of the BEDI grants and Section 108 loans, requiring compliance by URA with federal requirements of both programs and providing for the disbursement by HUD of grant and loan funds directly to URA from the following account:
Fund: 5100
Org 820000
Sublclass: PGHPR
Project/Grant #: 2267341
BY: 2007