Presenter
Presented by Mr. Dowd
Title
Resolution adopting the Lower Strip District Tax Increment Financing Plan presented by the Urban Redevelopment Authority of Pittsburgh and making certain findings. (Council District 6)
Body
WHEREAS, Pennsylvania's Tax Increment Financing Act, 53 P.S.ยง 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 of Pittsburgh (the "City") and to present such proposal to the City for its consideration; and
WHEREAS, the City, the County of Allegheny (the "County") and the School District of Pittsburgh (the "School District") have previously adopted resolutions endorsing the concept of a TIF plan for financing of certain improvements in portions of the Strip District Redevelopment Area #47, requesting the Authority to prepare a detailed TIF proposal and designating their respective representatives to work with the Authority toward the development and implementation of such a TIF plan; 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 Lower Strip District Tax Increment Financing Plan, and in accordance with the requirements of the Act; and
WHEREAS, the Act provides for the cooperation of local taxing bodies in the financing of projects within TIF districts (including publicly owned infrastructure outside the boundaries of a TIF District but of direct benefit to a project) and for the is...
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