title
A Resolution providing for a program of temporary exemption from County real property taxes for improvements, including repairs, construction, or reconstruction, made on industrial, commercial or business property in a deteriorated area in the City of Pittsburgh, County of Allegheny, Commonwealth of Pennsylvania, pursuant to the Local Economic Revitalization Tax Assistance Act, Pa. Stat. Ann. tit. 72 §4722 et seq.
body
Whereas, The Local Economic Revitalization Tax Assistance Act (“LERTA”), Pa. Stat. Ann. tit. 72 §4722 et seq., authorizes local taxing authorities to exempt from real estate taxation, for specific periods, the assessed valuation of improvements to deteriorated industrial, commercial and other business property; and
Whereas, the City Council of the City of Pittsburgh (“City”) conducted a public hearing to determine and designate the geographic boundaries of a deteriorated area located within the City; and
Whereas, the City Council has established the boundaries of a deteriorated area as more specifically set forth in Attachment “A” hereto (hereinafter the “Deteriorated Area”) and adopted the temporary exemption program; and
Whereas, the Deteriorated Area is otherwise identified by Lot and Block Nos. 10-N-260 and 10-N-261 in the Deed Registry Office of Allegheny County; and
Whereas, New Granada Development, LLC (Hill Community Development Corporation) (“Property Owner”) has proposed a $28,464,223 development of the entire 2000 block of Centre Avenue located at 2007 Centre Ave., Pittsburgh, Pennsylvania 15219 into a mixed-use space as well as a revamped green space that promotes pedestrian and public transit use, in addition to The University of Pittsburgh relocating their Jazz Center, African American Poetry and Poetics Department, Digital Inclusion Center, and Institute for Entrepreneurial Excellence to this location; and
Whereas, Property Owner is expected to utilize the LERTA as a mechanism to finance certain infrastructure impr...
Click here for full text