Title
Resolution providing for the execution of a Payment in Lieu of Taxes (“PILOT”) Agreement or Agreements with the Housing Authority of Pittsburgh for the development of Bedford Dwellings Phase IB housing project
Body
WHEREAS, the Housing Authority of the City of Pittsburgh (“Local Authority”) and the City of Pittsburgh (“Municipality”) entered into a Cooperation Agreement, dated as of December 13, 1988.
WHEREAS, the Municipality and the Local Authority have the power to enter into agreements with each other.
WHEREAS, the Local Authority or an affiliate thereof has an ownership interest in the housing project commonly known as Bedford Dwellings Phase IB (“the Development”).
WHEREAS, the Municipality desires to act cooperatively with the Local Authority to provide adequate low-income housing opportunities within the Municipality.
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 to enter into a Payment in Lieu of Taxes (PILOT) Agreement or Agreements with the Local Authority, in form approved by the City Solicitor. The agreement exempts the Development from all Assessments levied or imposed by any Taxing Body, and forbids the Municipality from levying or imposing any Assessments upon the Development.
Section 2. The Local Authority shall make annual Payments in Lieu of Taxes after the end of the fiscal year established for the Development in payment for the public services and facilities furnished without other cost or charge for or with respect to the Development.
Each annual Payment in Lieu of Taxes shall be made on or before February 28 of each year. Payments made for the Development will be deposited into account: 11101.107000.41.41905 or such other account identified by the City.