Title
Resolution authorizing the City of Pittsburgh (City") to enter into an Agreement or Agreements with the University of Pittsburgh Medical Center ("UPMC") to grant to UPMC tax credits equal to certain payments made by UPMC or its affiliates to the Pittsburgh Promise Foundation, if by legislation or Court decision, UPMC or its affiliates are made subject to the imposition of taxes by the City.
Body
WHEREAS, UPMC has entered into a Grant Agreement with the Pittsburgh Foundation under which UPMC will make gifts to the Pittsburgh Promise Foundation for the purpose of providing scholarships to residents of the School District of Pittsburgh as they are graduated from the public schools of the School District; ("UPMC")and
WHEREAS, the City recognizes and acknowledges the charitable status of UPMC and its affiliates; and
WHEREAS, the City, UPMC and its affiliates recognize that in the future legislation or Court decisions could mandate or permit the imposition by the City of a tax or municipal service fee or payment in lieu of taxes
Be it resolved by the Council of the City of Pittsburgh as follows:
1. The Mayor and appropriate officials of the City are hereby authorized to enter into an Agreement of Agreements with UPMC, in form and substance, subject to approval of the City Solicitor, to grant tax credits to UPMC or its affiliates in the event that legislation enacted by the General Assembly of the Commonwealth of Pennsylvania, or final Court decisions mandated or authorized the City to impose any tax or municipal service fee or payment in lieu of taxes on UPMC or its affiliates, such credits to be equal to certain payments which may be made by UPMC to the Pittsburgh Promise Foundation, as may be more fully set forth in such Agreement or Agreements.
2 Any ordinance of resolution inconsistent with this resolution, in whole or in part, is hereby repealed.