Presenter
Presented by Mr. Ferlo
AS AMENDED
Title
Resolution amending the North Shore East/River Avenue Tax Increment Financing Plan (Council District No. 1).
Body
Whereas, Pennsylvania's Tax Increment Financing Act, 53 P.S. ยงย 6930.1 et seq. (the "Act"), provides local taxing bodies the legal authority to cooperate in providing financing for the development of blighted areas within their respective jurisdictions in order to increase the tax base and improve the general economy; and
Whereas, Resolution No. 807, which was enacted by City Council on November 30, 1999 and approved by the Mayor of the City of Pittsburgh on December 8, 1999, approved the North Shore East/River Avenue Tax Incremental Financing Plan (the "Project Plan") prepared by the Urban Redevelopment Authority of Pittsburgh (the "Authority") for the financing of a TIF project and the implementation of the Project Plan in cooperation with the Authority, the County of Allegheny (the "County") and the School District of Pittsburgh (the "School District" and, together with the City and the County, the "Taxing Bodies"); and
Whereas, the Authority has recommended that the following amendments be made to the Project Plan: (1) amendment of the boundaries of the tax-increment financing district established by the Project Plan (the "TIF District") by removing from the TIF District that portion of Parcel 23-L-130 24-L-130 on which are located the buildings known as the Shipping, Meat Products, Bean, Cereal and Reservoir Buildings of the H.J. Heinz Company ("Heinz") so that such property and buildings (collectively, the "Excluded Property") can be included in a LERTA district expected to be developed for residential use; (2) removal of the North American Operations Center of Heinz (the "Center") from the Project Plan due to a decision by Heinz to locate the Center in the Gimbel's Landmark Building in downtown Pittsburgh; and (3) use of the actual real estate tax revenues collected by the Taxin...
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