Title
Resolution providing for the creation of the Mobility Improvement Trust and setting conditions for the deposit and expenditures of such funds. This fund is to be used to support efforts at improving the multimodal infrastructure within the area where new development occurs.
Body
WHEREAS, the Trust Fund will be known as the Mobility Improvement Trust Fund (“the Fund”);
WHEREAS, the Fund will receive monies and contributions from developers seeking an exception to the maximum parking requirements as prescribed by the City’s Zoning Code;
WHEREAS, the Mobility Improvement Trust provides an option for developers to receive an exception to the maximum parking requirements in exchange for contributing to the Fund a set amount of money at a set rate per parking space above the maximum parking requirement, as set by City Council;
WHEREAS, monies from the Fund will be used to support efforts at improving the multimodal infrastructure within the area where new development occurs.
Be it resolved by the City Council of the City of Pittsburgh as follows:
Section 1. The City Controller is hereby authorized to create a trust fund entitled “Mobility Improvement Trust Fund” into which shall be deposited funds paid to the City by 1) developers utilizing exception to the maximum parking requirements as prescribed in Section 914.01.C of the City’s Zoning Code, and 2) transfers from the general fund, as budgeted.
Section 2. The Trust Fund shall be established within the Office of Management and Budget and may only be used to fund multimodal infrastructure improvements within the area where new development occurs.
Section 3. The Department of Mobility and Infrastructure, subject to the approval of City Council, shall be authorized to use the monies from the Trust Fund for qualified projects.