[Adopted 1-24-2006 by Ord. No. 3211]
As used in this article, the following words
and phrases shall have the meanings set forth below:
Act 113 of 1990 enacted and amended by the General Assembly
of the Commonwealth of Pennsylvania.
The BRA of the City of Bradford or any lawful successor thereto.
City of Bradford.
McKean County.
The legally authorized agent of a municipality or school
district responsible by law for receipt and disbursement of the revenues
of the municipality or school district.
The undertakings and activities of the Authority in the Tax
Increment District for the elimination and prevention of blight in
accordance with the project plan.
Such costs include any and all eligible project costs undertaken
within or for the benefit of the Tax Increment District in accordance
with the express language defining project costs as contained in the
Act, as amended.
The City of Bradford Sixth Ward Area Tax Increment District,
prepared by the BRA of the City of Bradford and any duly authorized
amendments thereto.
The Bradford Area School District.
Tax increment or tax increment revenues shall be deemed to
include all revenues applicable to the Tax Increment District as more
fully defined in the formula for calculation of tax increment revenues
attached hereto and made a part hereof.[1] Tax increment revenues shall expressly be deemed not to
include those taxes identified as the tax increment base.
The tax increment district created pursuant to this Ordinance
in accordance with the provisions of Act 113 of 1990, as amended.
The fund maintained by the Authority into which are paid
all tax increments and into which are deposited all other revenues
related to the Tax Increment District and the project and from which
money is disbursed to pay project costs related to the project.
[1]
Editor's Note: Said formulas are on file in
the City offices.
A.
The Tax Increment District shall contain full units
of property assessed for real property tax purposes generally bounded
by and situated within the City of Bradford as more fully described
on Page 13 of the Tax Incremental Financing report and plan, City
of Bradford Sixth Ward 2005, attached hereto and made a part hereof.[1]
[1]
Editor's Note: The Tax Incremental Financing
Report is on file in the City offices.
B.
The boundaries are as follows: S. Kendall Avenue to
the north; Sixth Ward School to the west; Bradford City - Foster Township
boundary line to the east and south.
The Tax Increment District is hereby created
as of January 24, 2006. The Tax Increment District shall continue
in existence for 13 years from said date. The sale of Lot Nos. 2,
4, 5 and 7 of the Chelsea Lane Subdivision shall, exclusive of authority/municipal
tap on fees, include free connection with the water/sewer system.
The City Council hereby determines that the requisite time provided
for under the Act subsequent to the public hearing has passed as of
the date of adoption of this article.
The District shall be identified as the City
of Bradford Sixth Ward Area Tax Increment District for all project
plan and identification purposes.
City Council hereby determines in accordance
with the powers conferred upon municipalities by the Urban Redevelopment
Law and by the Act that based upon extensive studies and examination
of the conditions currently existing within the Tax Increment District,
the City Council of the City of Bradford hereby finds that:
A.
Each district is a contiguous geographic area within
a designated blighted area that meets the criteria to be considered
a redevelopment area.
B.
The improvement of the area is likely to enhance significantly
the value of substantially all of the other real property in the District.
C.
The aggregate value of equalized taxable property
of the District, plus all existing tax increment district, does not
exceed 10% of the total value of equalized taxable property within
the City of Bradford.
D.
The area comprising the District as a whole has not
been subject to adequate growth and development through investment
by private enterprise alone or would not be reasonably expected to
be adequately developed without the investment of public funds and
the adoption of the project plan.
E.
A feasible method exists, if necessary, for the compensation
of individuals, families and small businesses that may or will be
displaced by the project for their relocation to decent, safe and
sanitary dwelling accommodations within their means, without undue
hardship to such individuals, families and businesses.
G.
The project plan 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.
H.
The District is a blighted area containing characteristics
of blight as described in the Urban Redevelopment Law, and the proposal
to be undertaken is necessary to eliminate such conditions of blight.
More particularly, the conditions of blight are characterized as unsafe,
unsanitary, inadequate, or over-crowded conditions of the dwellings
therein; inadequate planning of the area; excessive land coverage
by the buildings thereon; the lack of proper light and air and open
space; the defective design and arrangement of buildings thereon;
faulty street or lot layout; and economically or socially undesirable
land uses.
The City Council of the City of Bradford hereby
approves the project plan and the project 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, as amended.
The City Council of the City of Bradford hereby
authorizes its City Finance Officer, the Treasurer, to deposit all
tax increment revenues received from the City, into a Tax Increment
Fund to be created for such purposes by the Authority. The City 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 to be directed, controlled and maintained by the Authority. The
Finance Officer 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 project.
The tax increments collected by the Finance
Officer of the City 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 project. Tax increment revenues, whether held by the Finance
Officer or otherwise, shall be applied only to the purposes provided
for by this article and for no other purpose. Unless unanimously agreed
to in writing by the municipal bodies, no tax increment revenues shall
be paid toward actual project item costs which exceed those set forth
on Page 17 of the Tax Incremental Financing Report and Plan 2005 prepared
by the Bradford Redevelopment Authority.[1]
[1]
Editor's Note: Tax Incremental Financing Report
is on file in the City offices.
The Authority is hereby authorized to apply
tax incremental revenues to project costs incurred in connection with
the project plan 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 costs,
enter into such contracts and agreements with respect to the project
plan and the District and undertake any and all actions provided under
the Act and this article deemed necessary to the Authority which in
the sole judgment of the Authority shall further the purposes of the
project plan. 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 property 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 City Council of the City of Bradford hereby
designates the BRA of the City of Bradford or its nominee as the authority
charged with preparing, implementing, monitoring and directing the
project plan and the project.
The City Council of the City of Bradford hereby
authorizes and directs all appropriate officers of the City to take
all actions necessary to implement the project and to further the
objectives of the project plan all in accordance with the Act.
The BRA of the City of Bradford 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 extend permissible under the Act.
The BRA may suggest amendments to the project
plan and District and the City may adopt, by resolution or otherwise,
such amendments as it deems advisable, as provided for pursuant to
the provisions of the Act.
