Presenter
Presented by Mr. Ferlo
Title
Resolution amending the North Shore East/River Avenue Tax Incremental Financing Plan Cooperation Agreement. (Council District 1).
Body
Be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. Whereas, Pennsylvania's Tax Increment Financing Act, 53 P.S. § 6930.1 et seq. (the "Act"), provides local taxing bodies the legal authority to cooperate in providing financing for the development of blighted areas within their respective jurisdictions in order to increase the tax base and improve the general economy; and
Whereas, Resolution No. 807, which was enacted by City Council on November 30, 1999 and approved by the Mayor of the City of Pittsburgh on December 8, 1999, approved the North Shore East/River Avenue Tax Incremental Financing Plan (the "Project Plan") prepared by the Urban Redevelopment Authority of Pittsburgh (the "Authority") for the financing of a TIF project and the implementation of the Project Plan in cooperation with the Authority, the County of Allegheny (the "County") and the School District of Pittsburgh (the "School District" and, together with the City and the County, the "Taxing Bodies"); and
Whereas, following presentation by, and at the request of, the Authority, the City of Pittsburgh has approved an amendment to the Project Plan to amend the boundaries of the TIF District, to remove certain property from the Project Plan and to amend the Tax Base Calculation; and
Whereas, the Cooperation Agreement must be amended to conform to the amendment to the Project Plan.
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 amendment to the Project Plan adopted this date.