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File #: 2003-1897    Version: 1
Type: Resolution Status: Held In Council
File created: 5/27/2003 In control: Committee on Housing, Economic Development & Promotion
On agenda: Final action:
Enactment date: Enactment #:
Effective date:    
Title: Resolution adopting the North Side Stadiums Area Tax Increment Financing Plan presented by the Urban Redevelopment Authority of Pittsburgh and making certain findings. (Council District No. 6).
Indexes: URA TIFS (TAX INCREMENT FINANCING)

Presenter
Presented by Councilwoman Carlisle
Title
Resolution adopting the North Side Stadiums Area Tax Increment Financing Plan presented by the Urban Redevelopment Authority of Pittsburgh and making certain findings. (Council District No. 6).
Body
Whereas, Pennsylvania's Tax Increment Financing Act, 53 P.S.ยงย 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 has previously adopted a resolution endorsing the concept of a TIF plan for financing of certain improvements in portions of the North Shore Stadiums Redevelopment Area, requesting the Authority to prepare a detailed TIF proposal and designating the City's representative to work with the Authority, the County of Allegheny (the "County") and the School District of Pittsburgh (the "School District") toward the development and implementation of such a TIF plan; and

Whereas, the County and the School District have also adopted resolutions indicating their respective commitments to participate in a TIF financing plan for the North Shore Stadiums Redevelopment Area; and

Whereas, the Authority, working with the designated representatives of the City, the County and the School District, has adopted and recommended a TIF Plan, in the form of the North Side Stadiums Area TIF Plan, and in accordance with the requirements of the Act; and

Whereas, the Act provides for the cooperation of local taxin...

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