Title
Resolution authorizing and instructing the Pittsburgh City Controller to perform an audit of Tax Increment Financing agreements the administering agencies, departments, authorities, and entities within the Controller's jurisdiction to do so, pursuant to the powers outlined in the Home Rule Charter.
Body
WHEREAS, per Title II, Article I: Administration, Chapter 201, ? 201.11 (c)(4), any project seeking a Tax Increment Financing resolution submitted to City Council prior to approval of an agreement must contain "an economic feasibility study of the project and the fiscal effects of the city's, School District's and County's tax base, including an estimate of the potential tax benefits to be realized by the City from the implementation of the project." Further, it notes that "tax projections should include, but should not be limited to, property taxes, business privilege taxes, earned income taxes, and mercantile taxes."
WHEREAS, this information should be accounted for, and said accounting should be coupled with projections of future funds and revenue; and
WHEREAS, per Article 4, Chapter 404: "Powers and Duties," Section (b) of the City's Home Rule Charter, the Pittsburgh City Controller has the authority "to audit the accounts of council, units of government and all agencies and trusts;" and
WHEREAS, per Article 4, Chapter 404: "Powers and Duties," Section (c) of the City's Home Rule Charter, the Pittsburgh City Controller further has the authority "to conduct performance audits of all agencies, trusts, council and units of government whenever the Controller decides it is necessary or is directed to conduct such an audit either by the Mayor or by Council, but in any event no less than once every four years;" and
WHEREAS, a concise, accurate accounting of all Tax Increment Financing agreements is necessary and appropriate; and
WHEREAS, the Pittsburgh City Controller is empowered through the City's Home Rule Charter to audit any and all agencies, de...
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