City of Pittsburgh - File #: 2002-0596

• File #: 2002-0596
• Version: 1
• Type: Resolution
• Status: Passed Finally
• File created: 5/28/2002
• In control: Committee on Housing, Economic Development & Promotion
• Final action: 8/13/2002
• Enactment date: 8/5/2002
• Enactment #: 579
• Effective date: 8/13/2002
• Title: Resolution adopting the Panther Hollow Center for Technology Research and Development Tax Incremental Financing Plan Presented by the Urban Redevelopment Authority of Pittsburgh and making certain findings. (Council District No. 8)
• Indexes: URA TIFS (TAX INCREMENT FINANCING)

Date	Ver.	Action By	Action	Result
8/13/2002	1	Mayor	Signed by the Mayor
8/5/2002	1	City Council	Passed Finally	Pass
7/31/2002	1	Committee on Housing, Economic Development & Promotion	Affirmatively Recommended	Pass
7/24/2002	1	Committee on Housing, Economic Development & Promotion	Held in Committee	Pass
7/15/2002	1	Committee on Hearings	Public Hearing Held
6/5/2002	1	Committee on Housing, Economic Development & Promotion	Held for Cablecast Public Hearing	Pass
5/28/2002	1	City Council	Read and referred

Presenter
Presented by Mr. Ferlo

Title
Resolution adopting the Panther Hollow Center for Technology Research and Development Tax Incremental Financing Plan Presented by the Urban Redevelopment Authority of Pittsburgh and making certain findings. (Council District No. 8)

Body
Whereas, Pennsylvania's Tax Increment Financing Act 53 P.S.§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 and to present such Proposal to the City for its consideration; and

Whereas, the City has previously adopted a resolution endorsing the concept of a TIF plan for financing of certain building and other improvements within the Junction Hollow Redevelopment Area (the "Panther Hollow Center for Technology Research and Development project"), requesting the Authority to prepare a detailed TIF proposal and designating the City's representative to work with the Authority, the County of Allegheny and the School District of Pittsburgh toward the development and implementation of such a TIF plan; and

Whereas, the County and the School District have also adopted resolutions indicating their respective commitments to participate in a TIF financing for the Panther Hollow Center for Technology Research and Development project; 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 Panther Hollow Center for Technology Research and Developme...