Presenter
Presented by Mr. Ferlo
Title
Resolution authorizing an amendment to the LERTA cooperation agreement with Allegheny County and the School District of Pittsburgh. (Council Districts 1, 3 and 6).
Body
Be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. Whereas, the Local Economic Revitalization Tax Assistance Act, Pa. Stat. Ann. tit. 72, ยง4722 et seq., otherwise known as "LERTA", authorizes local taxing authorities to exempt from real estate taxation, for specified periods, new construction and improvements to certain deteriorated industrial, commercial and other business property; and
Whereas, the City enacted Chapter 267 of the Pittsburgh Code to establish a LERTA District in the City; and
Whereas, the County of Allegheny (the "County") and the School District of Pittsburgh (the "School District") approved the LERTA District and entered into a Cooperation Agreement with the City with respect to the LERTA District; and
Whereas, following presentation by, and at the request of the Urban Redevelopment Authority of Pittsburgh, the City has approved amendments to Chapter 267 and the LERTA District (the "LERTA Amendments"); and
Whereas, the Cooperation Agreement must be amended to conform to the LERTA Amendments.
Now, therefore, be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. The Mayor and the Director of the Department of Finance are hereby authorized and directed to enter into an amendment to the Cooperation Agreement, in form approved by the City Solicitor, to conform to the LERTA Amendments.