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Resolution authorizing the Mayor and the Director of City Planning to amend an Agreement with Interface Studio, LLC, for the purpose of adding remaining funds for the Uptown and Fifth/Forbes Corridor Investment District not to exceed Three Hundred Twenty-Three Thousand, Seven Hundred Twenty-Five Dollars ($323,725.00) to the existing contract to complete all necessary planning studies. The final cost is not to exceed One Million, Five Hundred Seventy-Five Thousand Dollars ($1,575,000.00).
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WHEREAS, the City wishes to investigate the creation of the Uptown and Fifth/Forbes Corridor Investment District as part of a broader community revitalization strategy known as the EcoInnovation District; and
WHEREAS, such planning will include, but not be limited to, consideration of a Transit Revitalization Improvement District ("TRID"); and
WHEREAS, the Transit Revitalization Investment District Act, Act of December 8, 2004, P.L. 1801, No. 238, codified at 73 P.S. ?? 850.101 et seq. (collectively, the "Act") authorizes public transportation agencies to work cooperatively with counties, local governments, transportation authorities, the private sector, and other providers of public transportation to create TRIDs; and
WHEREAS, creating a TRID provides local taxing bodies with authority to cooperate in establishing transit-oriented development and value capture areas, as defined in the Act, within their respective jurisdictions to increase the tax base and improve the general economy; and
WHEREAS, the City and the Urban Redevelopment Authority plan to work cooperatively regarding the Uptown and Fifth/Forbes Corridor Investment District, including the investigation of the creation of a TRID within such designated area; and
WHEREAS, in order to fund the consideration/creation of the Uptown and Fifth/Forbes Corridor Investment District, the City wishes to allocate capital funding to undertake necessary planning and implementation activities for a proposed TRID and ...
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