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File #: 2015-2256    Version: 1
Type: Resolution Status: Passed Finally
File created: 11/20/2015 In control: Committee on Intergovernmental Affairs
On agenda: 12/16/2015 Final action: 12/21/2015
Enactment date: 12/21/2015 Enactment #: 834
Effective date: 12/28/2015    
Title: Resolution authorizing a Cooperation Agreement or Agreements between the City of Pittsburgh (the "City") and the Urban Redevelopment Authority of Pittsburgh (the "Authority") to divert 70% of the incremental parking taxes, up to $1,000,000.00, to fund a portion of public space improvements for the 3 Crossings Development. (Council District 7)
Indexes: COOPERATION AGREEMENT/S
Title
Resolution authorizing a Cooperation Agreement or Agreements between the City of Pittsburgh (the "City") and the Urban Redevelopment Authority of Pittsburgh (the "Authority") to divert 70% of the incremental parking taxes, up to $1,000,000.00, to fund a portion of public space improvements for the 3 Crossings Development. (Council District 7)

Body
Whereas, the 3 Crossings Development will be a new mixed use development located between 25th and 27th Street and between Smallman Street and the Allegheny River and will contain 300 apartment units, 375,000 gross square feet of urban flex office space, 16,000 square feet of retail, and a HUB intermodal parking garage on parcels: Block 25-J, Lots 129, 138, & 142, and Block 25-K, Lot 4 (the "Garage");
Whereas, the tax increment funds from the Garage will be used to support public space improvements for the 3 Crossings Development including utility relocation, upgraded street lighting, new sidewalks, street trees, landscaping, and a new public plaza, which will cost in excess of $3,000,000.00 (the "Public Space Improvements");
Whereas, the 3 Crossings Developer has requested that 70% of the parking taxes generated by the Garage during its first 15 years of operation be made available to the Developer to pay a portion of the costs of construction of the Public Space Improvements; and
Whereas, the Redevelopment Cooperation Law, 35 P.S. ?? 1741, et seq., as amended, authorizes a city to enter into agreements with a redevelopment authority to carry out its public purposes upon the terms and over the period contemplated herein.
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 a cooperation agreement (the "Cooperation Agreement") with the Authority in form approved by the City Solicitor, irrevocably assigning to the Authority 70% of all parking ...

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