Presenter
Presented by Ms. Carlisle
Title
Resolution authorizing an amended and Restated LERTA Cooperation Agreement with the County of Allegheny and the School District of Pittsburgh. (Council District 6).
Body
WHEREAS, the Local Economic Revitalization Tax Assistance Act, Pa. Stat. Ann. tit. 72, ยง4722 et seq., otherwise known as "LERTA", authorizes local taxing authorities to exempt from real estate taxation, for specified periods, new construction and improvements to certain deteriorated industrial, commercial and other business property; and
WHEREAS, the City of Pittsburgh (the "City") enacted Chapter 267 to establish a LERTA District in the City; and
WHEREAS, the County of Allegheny and the School District of Pittsburgh approved the LERTA District and entered into a Cooperation Agreement with the City with respect to the LERTA District (the "Cooperation Agreement"); and
WHEREAS, by Ordinance No. 23 effective July 12, 2002, the City approved amendments to Chapter 267 and the LERTA District, and by Resolution No. 473 effective July 12, 2002, the City approved amendments to the Cooperation Agreement; and
WHEREAS, following presentation by, and upon the recommendation of the Urban Redevelopment Authority of Pittsburgh, the City has approved further amendments to Chapter 267 and the LERTA District (the "LERTA Amendments"); and
WHEREAS, the Cooperation Agreement must be further amended (or amended and restated) to conform to the LERTA Amendments.
Be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. The Mayor and the Director of the Department of Finance are hereby authorized and directed to enter into an amendment (or amendment and restatement) of the Cooperation Agreement, in form approved by the City Solicitor, to conform to the LERTA Amendments.