Title
Resolution authorizing the Mayor and the Director of the Department of Finance, on behalf of the City of Pittsburgh, to enter into a Cooperation Agreement or Agreements with the Housing Authority of the City of Pittsburgh to document local cooperation and the Housing Authority's agreement to make payments in lieu of taxes for Bedford Dwellings Phase II (which consists of Bedford Phases IIA, IIB and IIC) housing development.
Body
WHEREAS, the City of Pittsburgh (the "City") and the Housing Authority of the City of Pittsburgh (the "HACP") have previously entered into Cooperation Agreement or Agreements with respect to local cooperation and payments in lieu of taxes for low income housing units in the City; and,
WHEREAS, the HACP has represented to the City that Bedford Dwellings Phase IIA, Bedford Dwellings Phase IIB and Bedford Dwellings Phase IB (the "Projects") will qualify as tax-exempt properties under 35 P.S. ? 1563; and,
WHEREAS, pursuant to the requirements of applicable federal law, the parties now wish to enter into three cooperation agreements to govern local cooperation and to require payments in lieu of taxes to be made by the HACP to the City for the Projects in order to provide additional low-income housing opportunities within the City of Pittsburgh.
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, on behalf of the City of Pittsburgh, are authorized to enter into two Cooperation Agreement or Agreements with the Housing Authority of the City of Pittsburgh to document the City's acceptance of payments in lieu of taxes from the HACP for the Projects according to the requirements of applicable law. The Cooperation Agreements will be subject to the approval of the City Solicitor as to form and substance. Payments from the HACP for the projects will be deposited into account 11101.107000.41.41905 for Bedford Dwellings Phase IIA, Bedford Dwellings Phase...
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