Title
Resolution authorizing the Mayor, on behalf of the City of Pittsburgh, to enter into an agreement with the Urban Redevelopment Authority of Pittsburgh, whereby the City and the Authority will set forth a single, uniform and readily administered set of requirements concerning the Authority's retention and use of the Urban Development Action Grant (UDAG) Loan repayment proceeds.
Body
Be it resolved that the Council of the City of Pittsburgh hereby enacts as follows:
Section 1. The Mayor is hereby authorized to enter into an Agreement, attached hereto as Exhibit A, with the Urban Redevelopment Authority of Pittsburgh, whereby the City and the Authority will set forth a single, uniform and readily administered set of requirements concerning the Authority's retention and use of the Urban Development Action Grant (UDAG) Loan repayment proceeds. The Agreement shall be in a form approved by the City Solicitor.
EXHIBIT A
AGREEMENT RELATING TO UDAG LOAN
REPAYMENT PROCEEDS
MADE and entered into on , 2008
BY AND BETWEEN
CITY OF PITTSBURGH, a municipal corporation of the Commonwealth of Pennsylvania (the “City”)
AND
URBAN REDEVELOPMENT AUTHORITY OF PITTSBURGH, a redevelopment authority organized and existing under the Urban Redevelopment Law, 35 P.S. §1701 et seq. (the “Authority”)
WITNESSETH:
WHEREAS, the U.S. Department of Housing and Urban Development (“HUD”) has from time to time awarded the City various UDAG Grants (hereinafter referred to as the “Grants”);
WHEREAS, pursuant to the Redevelopment Cooperation Law, Act of May 24, P.L. 982, as amended, the City has entered into various Cooperation Agreements (the “Cooperation Agreements”) with the Authority which have designated the Authority as the City's agent to administer the Grants including, where appropriate, the structuring of Grant repayment agreements pursuant to which the recipients of funding are obligated to repay the Grants to the Authority (the “UDA...
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