The County Council of Allegheny County does hereby find that the specific
geographic area spanning the City of Pittsburgh, bounded and described on
Exhibit A, attached hereto, which area is referred to herein as the Proposed Keystone Opportunity
Expansion Subzone, constitutes a deteriorated property under the Act.
Eligibility for exemptions shall be available to those businesses and
residents who are in compliance with the provisions of the Act.
This article shall be subject to and shall be interpreted in accordance
with the provisions of the Keystone Opportunity Expansion Zone Act.
The exemption from real property taxation authorized by this article
shall be upon the property exempted and not transferable. Within 30 days of
the transfer of ownership of the real property subject to abatement, the new
owner requesting real property tax abatement must do so in accordance with
the provisions of the Act.
Upon approval by Department of Community and Economic Development (DCED)
of the County's application with respect to the Proposed Keystone Opportunity
Expansion Subzone, this article shall enter into full force and effect retroactive
to January 1, 2001.
This article shall expire December 31, 2010.