Presenter
Presented by Ms. Gross
Title
Resolution authorizing the Mayor and the Director of City Planning to enter into an Agreement or Agreements with a Consultant or Consultants for the purpose of the creation and implementation of the Uptown and Fifth/Forbes Corridor Investment District, at a cost not to exceed One million, Six Hundred Twenty-Eight Thousand, Five Hundred Sixty-Seven Dollars and Forty-five cents ($1,628,567.45).
Body
WHEREAS, the City wishes to investigate the creation of the Uptown and Fifth/Forbes Corridor Investment District as part of a broader community revitalization strategy; and
WHEREAS, such planning will include, but not be limited to, consideration of a Transit Revitalization Improvement District ("TRID"); and
WHEREAS, the Transit Revitalization Investment District Act, Act of December 8, 2004, P.L. 1801, No. 238, codified at 73 P.S. ยงยง 850.101 et seq. (collectively, the "Act") authorizes public transportation agencies to work cooperatively with counties, local governments, transportation authorities, the private sector, and other providers of public transportation to create and designate TRIDs; and
WHEREAS, creating a TRID provides local taxing bodies with authority to cooperate in establishing transit-oriented development and value capture areas, as defined in the Act, within their respective jurisdictions to increase the tax base and improve the general economy of their communities; and
WHEREAS, the City and the Urban Redevelopment Authority plan to work cooperatively regarding the Uptown and Fifth/Forbes Corridor Investment District, including the investigation of the creation of a TRID within such designated area; and
WHEREAS, in order to fund the consideration/creation of the Uptown and Fifth/Forbes Corridor Investment District, the City wishes to allocate capital funding to undertake necessary planning and implementation activities for a proposed TRID and other Corridor Investment District compo...
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