Title
Ordinance amending and supplementing the Pittsburgh Code, Title Two, Fiscal; Article IX, Property Taxes; Section 265, Exemptions for Residential Improvements by amending the schedule of exemptions in Section 265.03 as such schedule applies to properties located within the Lower Hill District (as hereafter defined).
Body
Whereas, the City of Pittsburgh has been working with the Urban Redevelopment Authority of Pittsburgh ("URA"), Allegheny County, the Pittsburgh Public Schools, members of the Hill District community, Pittsburgh Arena Real Estate Redevelopment, LP, the Sports and Exhibition Authority of Pittsburgh and Allegheny County and others to find ways to support the objectives of the Community Collaboration and Implementation Plan dated September 11, 2014 (the "CCIP") for the proposed development of an area comprised of approximately 28 acres within the Lower Hill District and identified more specifically on Exhibit A attached hereto (the "Lower Hill Site"); and
Whereas, one of the principle goals of the CCIP is to insure that the tax and other benefits expected to be realized by development of the Lower Hill Site are shared by the greater Hill District community and deployed in the manner and for purposes identified in the CCIP; and
Whereas, in furtherance of this CCIP goal, the URA has recommended that the City, the County and the Pittsburgh School District (collectively, the "Taxing Bodies") participate in a plan of finance (the "Funding Plan") that will provide funding for development, projects and programs within the Lower Hill Site as well as the greater Hill District, through the creation of a district pursuant to the Pennsylvania Local Economic Revitalization Tax Assistance Act, as amended ("LERTA"); and
Whereas, the Funding Plan contemplates that (i) each of the Taxing Bodies authorize exemptions from certain real estate taxes for properties within the Lower Hill Site pursuant to LERTA, (ii) the property o...
Click here for full text