Presenter
Presented by Mr. Dowd
Title
Resolution adopting the Gardens at Market Square Tax Increment Financing Plan presented by the Urban Redevelopment Authority of Pittsburgh and making certain findings. (Council District 6)
Body
Whereas, the Tax Increment Financing Act, 53 PA. CONS. STAT. ANN. §6930.1 et. seq. (“Act”), provides local taxing bodies with authority to cooperate in providing financing for development of blighted areas, as defined in the Act, within their respective jurisdictions to increase the tax base and improve the general economy; and
Whereas, pursuant to the Act, the Urban Redevelopment Authority of Pittsburgh (“Authority”) is legally empowered to prepare tax increment financing (“TIF”) plans to provide financing for the elimination and prevention of blight within specified tax increment districts located in the City of Pittsburgh (“City”) and to present TIF plans to the City, the School District of Pittsburgh (“School District”), and Allegheny County (“County”) for consideration; and
Whereas, the County, the School District and the City each adopted resolutions on March 23, 2012, April 25, 2012, and March 30, 2012 respectively, endorsing the concept of a TIF plan to fund a portion of the costs of construction of public infrastructure and other necessary public improvements to facilitate the redevelopment of portions of the Certified Inner Triangle Redevelopment Area (#54) and Certified Market Stanwix Redevelopment Area (#44) - Central Business District located on the corner of Forbes Avenue and Wood Street in Golden Triangle District and authorizing the Authority to prepare a detailed TIF plan in connection with the same; and
Whereas, the Authority, working with the designated representatives of the City, the County and the School District, prepared and adopted the “Gardens at Market Square TIF Plan” (the “TIF Plan”) in accordance with the requirements of the Act, providing for the creation of the Gardens at Market Sq...
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