Presenter
Presented by Mr. Udin
AS AMENDED
Title
Resolution authorizing an amendment to the South Side Works Tax Increment Financing District Cooperation Agreement. (Council District No. 3).
WHEREAS, pursuant to Resolution No. 71, effective March 3, 1999, the City of Pittsburgh (the "City"), the County of Allegheny (the "County"), the School District of Pittsburgh (the "School District") and the Urban Redevelopment Authority of Pittsburgh (the "URA") entered into a Cooperation Agreement dated as of November 1, 1999 (the "Cooperation Agreement") providing for the financing, monitoring, implementing and terminating of the South Side Works Tax Incremental Financing ("TIF") District; and
Body
WHEREAS, the Council of the City of Pittsburgh has approved an amendment to the TIF Plan clarifying an inconsistency and potential error in the description of the amount of incremental taxes to be made available thereby; and
WHEREAS, following presentation by, and at the request of the, the URA, the City of Pittsburgh has approved an amendment to the TIF Plan to provide the URA with additional incremental taxes in order to pursue additional projects and achieve the fullest and most beneficial intent purposes of the development of the TIF Plan; and
WHEREAS, the Cooperation Agreement must be amended to conform to the amendment of the TIF Plan and to correct certain typographical errors;
NOW, THEREFORE, 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 and directed to enter into an amendment to the Cooperation Agreement, in form approved by the City Solicitor, to conform to the amendment to the TIF Plan adopted this date and to correct certain typographical errors.