Presenter
Presented by Ms. Carlisle
Title
Resolution adopting the Centre & Negley Tax Increment Financing Plan presented by the Urban Redevelopment Authority of Pittsburgh and making certain findings. (Council District No. 8)
Body
Whereas, Pennsylvania's Tax Increment Financing Act, 53. P.S. ยง 6930.1 et seq. (the "Act"), provides local taxing bodies legal authority to cooperate in providing financing for development of blighted areas within their respective jurisdictions in order to increase the tax base and improve the general economy; and
Whereas, under the Act, the Urban Redevelopment Authority of Pittsburgh (the "Authority") is legally empowered to prepare a Tax Increment Financing ("TIF") proposal to provide financing for the elimination and prevention of the development or spread of blight within specified tax increment districts located in the City and to present such proposal to the City for its consideration; and
Whereas, the City, the County of Allegheny (the "County") and the School District of Pittsburgh (the "School District") have each adopted resolutions endorsing the concept of, and agreeing to participate in, a TIF plan for financing a portion of the costs of constructing certain public infrastructure improvements and expanding a parking garage from approximately 58 to approximately 248 parking spaces in connection with a mixed use development (the "TIF Project") to be located at the intersection of Centre Avenue and Negley Avenue in the Shadyside area of Pittsburgh in a portion of the Baum-Centre Redevelopment Area called the Centre & Negley TIF District (the "TIF District"), requesting the Authority to prepare a detailed TIF proposal and designating the City's representative to work with the Authority, the County, the City and the School District toward development and implementation of a TIF plan with respect to the TIF Project; and
Whereas, the Authority, working with the designated representatives of the City, the ...
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