[Adopted 6-2-1999 by Ord. No. 410]
As used in this article, the following words
and phrases shall have the meanings set forth below:
Act 113 of 1990 enacted by the General Assembly of the Commonwealth
of Pennsylvania.
[1]The Redevelopment Authority of the County of Westmoreland
or any lawful successor thereto.
County of Westmoreland.
The legally authorized agent responsible by law for the receipt
and disbursement of the revenues for taxing bodies.
The tax increment district created pursuant to Resolution
No. 506[3] in accordance with the provisions of Act 113 of 1990.
[4]Such costs include any and all eligible project costs undertaken
within or for the benefit of the district in accordance with the express
language defining project costs as contained in the Act.
TIF Proposal prepared by the Redevelopment Authority of the
County of Westmoreland, and the duly authorized amendments thereto.
The incremental revenues, determined with reference to the
tax increment base resulting from the increase in the total assessed
value and any increase in millage subsequent to the date the district
is created or taxable real property situated in the district created
by Resolution No. 506.[5] This definition applies only to ad valorem taxes on real
property and payments in lieu of taxes assigned to or agreed to be
paid by governmental entities of nonprofit organizations with property
situated or otherwise assignable to the district.
The aggregate of assessed value of all taxable real property
located within the district created by Resolution No. 506[6] on the date the district was created, December 27, 1995.
The undertakings and activities of the Authority in the Finley
Road Revitalization Area for the elimination and prevention of blight,
as set forth in Exhibit A to Resolution No. 506[7] and amendments thereto.
The fund maintained by the Authority into which are paid
all tax increment revenues and into which are deposited all other
revenues related to the district and the TIF Proposal, from which
money is disbursed to pay project costs related to the district.
One hundred percent of the tax increment applicable to the
district beginning with payments made for 1999 assessments.
The Township of Rostraver.
[1]
Editor's Note: See 53 P.S. § 6930.1
et seq., the Tax Increment Financing Act.
[3]
Editor's Note: Resolution No. 506 is on file
in the Township offices.
[4]
Editor's Note: See 53 P.S. § 6930.1
et seq., the Tax Increment Financing Act.
[5]
Editor's Note: Resolution No. 506 is on file
in the Township offices.
[6]
Editor's Note: Resolution No. 506 is on file
in the Township offices.
[7]
Editor's Note: Resolution No. 506 is on file
in the Township offices.
The Finley Road Revitalization Area shall contain
full units of property assessed for real property tax purposes as
described in Exhibit A to Resolution No. 506[1] and amendments thereto.
[1]
Editor's Note: Resolution No. 506 is on file
in the Township offices.
The Finley Road Revitalization Area was created
as of the effective date of Resolution No. 506. The district shall
continue in existence until such time as all project costs are fully
paid or until the Township by ordinance dissolves the district (whichever
occurs first), but no longer than 20 years unless that term is amended
as authorized by Act 113. The Authority currently estimates that the
duration of the district will be 20 years or less.
The district has been identified as "Finley
Road Revitalization Area" for all TIF Proposal and identification
purposes.
The Township has determined in accordance with
the powers conferred upon municipalities by the Urban Redevelopment
Law[1] and by the Act that, based upon extensive studies and
examination of the conditions existing within the district:
A.
The district is a contiguous geographic area within
a designated redevelopment area.
B.
The improvements are likely to enhance significantly
the value of real property in the district.
C.
The aggregate value of equalized taxable property
of the district, plus all existing tax increment districts, does not
exceed 10% of the total value of equalized taxable property within
the Township.
D.
Public improvements within the area comprising the
district as a whole have not been adequate and would not reasonably
be anticipated to be adequately developed without the adoption of
the TIF Proposal.
E.
The TIF Proposal conforms to the Township Comprehensive
Plan.
F.
The TIF Proposal will afford maximum opportunity,
consistent with sound needs of the community as a whole, for the rehabilitation
or redevelopment of the district by private enterprise.
G.
The district is a blighted area containing characteristics
of blight as described in the Urban Redevelopment Law and the TIF
Proposal to be undertaken is necessary to eliminate such conditions
of blight. More particularly, the conditions of blight are characterized
as inadequate planning of the area, faulty street and lot layout and
economically or socially undesirable land uses.
[1]
Editor's Note: See 35 P.S. § 1701
et seq.
The Board of Commissioners of the Township hereby
approves the TIF Proposal for the district prepared by the Authority
and authorizes the Authority to undertake any and all methods of financing
of project costs available pursuant to Section 9 of the Act.
The Board of Commissioners of the Township hereby
authorizes the Township Tax Collector/Treasurer[1] to deposit all tax increment revenues received by the
Township and county into a Tax Increment Fund to be created for such
purposes by the Authority. The Township Tax Collector/Treasurer is
hereby authorized and directed to pay over all tax increment revenues
to the Tax Increment Fund created for the benefit of the district
and directed, controlled and maintained by the Authority. The Treasurer
is also authorized to accept or deposit into the Tax Increment Fund
any other gifts, appropriations, grants, loans or other revenues to
be applied to the district for the purposes of the TIF Proposal. In
addition to its share of tax increment revenues, the Township hereby
pledges $100,000 to be paid into the Tax Increment Fund.
The tax increment revenues collected by the
Tax Collector/Treasurer[1] of the Township, from and after the date of settlement
of such taxes, whether or not paid into the Tax Increment Fund, shall
be considered as funds impressed with a trust in favor of the district
for purposes of the TIF Proposal. Tax increment revenues, whether
held by the Township Tax Collector/Treasurer or Authority or otherwise,
shall be applied only to the purposes for by this article and for
no other purpose.
The Authority is hereby authorized to apply
tax increment revenues to project costs incurred in connection with
the TIF Proposal for the district in accordance with the Act. The
Authority may undertake such expenditures, make such appropriations,
reimburse parties for prior expenditures related to project cost,
enter into such contracts and agreements with respect to the TIF Proposal
and the district in which the sole judgment of the Authority shall
further the purposes of the TIF Proposal consistent with the provisions
of this resolution. Any tax increment revenues remaining in the Tax
Increment Fund after payment of all project costs has been made or
provided for shall be returned to the proper taxing bodies on a pro
rata basis in the proportions that the property tax millage of each
taxing body bears to the entire millage levied by all taxing bodies
at the time that such funds remain.
The Board of Commissioners of the Township hereby
designates the Redevelopment Authority of the County of Westmoreland
as the Authority charged with preparing, implementing, monitoring
and directing the TIF Proposal and as the issuing Authority as defined
in the Act for any bonds or notes which may be necessary to finance
project costs for the district.
The Township hereby authorizes and directs all
appropriate officers of the Township to take all actions necessary
to implement the TIF Proposal and to further the objectives of the
TIF Proposal, all in accordance with the Act.
The Authority is hereby directed to establish
such dates for receipt of tax increment revenues, provide for any
necessary reserve for tax revenues and establish provisions for collection
and enforcement of payment of tax increment revenues to the extent
permissible under the Act.
The Township hereby authorizes the appropriate
officers of the Township to enter into a cooperation agreement with
other taxing bodies or private developers to provide any form of financial
security, collateral, guaranties or assurances toward payment of project
costs as such agreements may be deemed necessary by the Authority
in consultation with the Township. Notwithstanding the foregoing,
the Township shall not pledge its full faith and credit toward any
payment of project costs or toward any bonds or notes which may be
issued with respect to project costs attributable to the district.
The Township may pledge or assign other sources of revenues as security
for the payment of project costs in accordance with provisions of
the Act.
The Authority may propose and the Township may
adopt, by ordinance or otherwise, such amendments to the TIF Proposal
and the district as are deemed advisable as provided for pursuant
to the terms of the Act.
