[Ord. 2013-1, 1/24/2013, § 1]
The following capitalized words and terms, when used in this
Part, shall have the following meanings:
The Tax Increment Financing Act of the Commonwealth of Pennsylvania,
53 P.S. § 6930.1 et seq., as amended.
The Tax Increment Financing Agreement to be made by and among
the Authority, the county, the school district and this Township,
with respect to the District and the use and application of the tax
increment revenues, such Agreement to be in the form approved in this
Part.
The Redevelopment Authority of the County of York, or its
lawful successor.
The County of York, Pennsylvania.
The date as of which the District shall come into existence, as specified in § 24-603 of this Part.
The Stonebridge Tax Increment District created pursuant to
this Part.
The legally authorized agent of this Township responsible
by law for receipt and disbursement of the tax revenues of this Township.
The undertakings and activities of the Authority in implementation
of the project plan.
Expenditures and costs incurred or to be incurred for expenditures
with respect to the project that constitute "project costs" within
the meaning of the Act.
The document prepared by or on behalf of the Authority in
compliance with the Act and entitled "Stonebridge Tax Increment District
Project Plan," a copy of which is on file with the Secretary of this
Township, as the same may be amended from time to time in accordance
with the Act.
South Eastern School District, York County, Pennsylvania,
or its lawful successor.
The fund established by the Authority with respect to the
District and constituting the "tax increment fund" within the meaning
of the Act, into which the Authority shall pay or cause to be paid
all tax increments and any additional money received pursuant to an
appropriation from the county, the Township or the school district
or from any other source, and from which the Authority shall disburse
money, to pay project costs and to satisfy claims of holders of TIF
Bonds. Unless otherwise permitted by the Agreement, such fund shall
be established and maintained by the Authority with a bank, bank and
trust company, trust company or national banking association appointed
by the Authority to serve as depository.
Shall be deemed to include all incremental real property
tax revenues resulting from an increase in the total market value
of taxable real property situated in the District, determined with
reference to the aggregate market value of all taxable real property
located within the District as of the District creation date, all
as more fully set forth in the Agreement.
Bonds, notes or other obligations issued by the Authority
to finance project costs (or to retire bonds, notes or other obligations
previously issued for such purpose) and payable from tax increment
revenues.
The Township of Hopewell, York County, Pennsylvania, or its
lawful successor.
[Ord. 2013-1, 1/24/2013, § 2]
The District shall contain the following adjoining full units
of property assessed for real property tax purposes, all of which
are located within the Township:
The parcels of land designated as York County Tax Parcel Nos.
32000CJ00380000000, 32000CJ00390000000 and 32000CJ0039C000000.
[Ord. 2013-1, 1/24/2013, § 3]
1.
The District is hereby created as of January 24, 2013.
2.
The District shall continue in existence until such time as all project
costs and all tax increment bonds issued by the Authority and payable
from tax increment revenues are fully paid or until that date which
is 20 years after the District creation date, as permitted by the
Act, whichever is earlier, unless an amendment shall be made to the
project plan in accordance with § 5(a)(8) of the Act, 53
P.S. § 6930.5(a)(8), extending the term of existence of
the District.[1]
[1]
Editor's Note: Ordinance No. 1-2019, adopted 11/7/2019, extended
the term of the District to January 24, 2038.
3.
The District shall not be dissolved as long as tax increment bonds
or notes for the District remain outstanding.
[Ord. 2013-1, 1/24/2013, § 4]
The District shall be identified and known as the "Stonebridge
Tax Increment District."
[Ord. 2013-1, 1/24/2013, § 5]
1.
The Board of Supervisors of this Township makes the following findings:
A.
The District is a contiguous geographic area within an area which
a planning commission (the Hopewell Township Planning Commission)
has designated as a "redevelopment area" in accordance with the Pennsylvania
Urban Redevelopment Law, 35 P.S. § 1701 et seq.
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 districts within the Township, does
not exceed 10% of the total value of equalized taxable property within
the Township, nor does the same exceed 10% of the total value of equalized
taxable property within the county or the school district.
D.
The area comprising the District as a whole has not been subject
to adequate growth and development through investment by private enterprise
and is not reasonably anticipated to be adequately developed without
the adoption of the project plan.
E.
No individuals, families or small businesses will be displaced by
the creation of the District or the public works or improvements and
residential, commercial, or industrial development or revitalization
within the District contemplated by the project plan.
F.
The project plan conforms to the Township's master plan.
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 described
in § 2 of the Urban Redevelopment Law and the Project is
necessary to eliminate such conditions.
[Ord. 2013-1, 1/24/2013, § 6]
The Board of Supervisors of this Township hereby approves and
adopts the project plan for the District prepared by the Authority.
[Ord. 2013-1, 1/24/2013, § 7]
The Authority is hereby designated as the authority charged
with preparing, implementing, monitoring and directing the project
plan and as the issuing authority, as defined in the Act, for any
tax increment bonds or notes which may be necessary to finance project
costs for the District. The Authority is authorized to undertake any
and all methods of financing of project costs available pursuant to
§ 9 of the Act and to cooperate with the private developer
or developers of the land in the District in the implementation of
the project plan and the contemplated financing.
[Ord. 2013-1, 1/24/2013, § 8]
This Township hereby allocates to the Authority 100% of all
tax increment revenues of this Township received from the District
creation date until that time, after the completion of all improvements
specified as part of the project in the project plan and any amendments
thereto made in accordance with the Act, when the Authority has received
aggregate tax increment revenues allocated to it by the participating
local government units in an amount equal to the aggregate of all
expenditures made or monetary obligations incurred for project costs,
including the payment of all TIF Bonds.[1]
[1]
Editor's Note: Ordinance No. 1-2019, adopted 11/7/2019, provided:
"This Township hereby allocates to the Authority one hundred percent
(100%) of all Tax Increment Revenues of this Township until January
24, 2038."
[Ord. 2013-1, 1/24/2013, § 9]
The Finance Officer of this Township shall pay over to the Authority,
or shall cause to be paid over to the Authority, in each case for
deposit in the tax increment fund, on each settlement date provided
by law for the payment of real property taxes levied by this Township,
out of all such taxes which have been collected, that portion which
represents the tax increment revenues which have been allocated by
this Township to the Authority. The Finance Officer of this Township
is also authorized to pay over to the Authority for deposit into the
tax increment fund any additional moneys which the Board of Supervisors
of this Township from time to time may appropriate for the purpose
of the payment of project costs, including payment of the TIF Bonds,
and any moneys received by this Township from time to time from any
other sources to the extent such moneys are intended or restricted
for payment of project costs, including payment of the TIF Bonds.
[Ord. 2013-1, 1/24/2013, § 10]
From and after the District creation date until such time as
the District is dissolved, this Township may not grant any tax exemptions
pursuant to Local Economic Revitalization Tax Act (LERTA) with respect
to any property located within the District, notwithstanding any ordinance
of this Township to the contrary.
[Ord. 2013-1, 1/24/2013, § 11]
1.
This Township shall enter into the Agreement with the Authority and
the other local government units participating in the District for
the purposes of, among other things, confirming the appointment of
the Authority as the entity charged with preparing and implementing
the approved project plan and issuing the TIF Bonds; confirming the
allocation of tax increment revenues to the Authority; setting forth
the manner in which such allocated tax increment revenues shall be
paid to the Authority and applied by the Authority; and setting forth
such further terms and provisions as may be deemed necessary or desirable
for the implementation of the project plan, the issuance and sale
of TIF Bonds and the security of TIF Bonds; provided that nothing
in the Agreement shall constitute a pledge of the full faith, credit
or taxing power of this Township for the payment of project costs
or the principal of or interest on any TIF Bonds.
2.
The Agreement shall be for the duration of the term of the District[1] and shall be substantially in the form submitted to the
Board of Supervisors of the Township at this meeting, which is hereby
incorporated in this Part by this reference, together with such changes
as may be approved in accordance with the following subsection of
this Part. A copy of the Agreement in the form submitted to the Board
of Supervisors at this meeting shall be filed by the Secretary of
the Township with the minutes of this meeting.
[1]
Editor's Note: Ordinance No. 1-2019, adopted 11/7/2019, provided:
"This Township shall enter into the Amendment to extend the term of
the TIF District." Said ordinance extended the term of the District
to January 24, 2038.
3.
The Agreement shall be executed and delivered on behalf of this Township
by the Chairman or Vice Chairman of Township Board of Supervisors,
and each such officer is hereby authorized and directed to execute
and to deliver the Agreement in substantially the form approved in
the preceding paragraph of this Part, together with such changes thereto
as such officer, following consultation with the Solicitor of this
Township, may approve, such officer's execution and delivery of the
Agreement to constitute conclusive evidence of his or her approval
of any such changes. The Secretary of this Township is hereby authorized
and directed to attest execution of the Agreement by the Chairman
or Vice Chairman of Township Board of Supervisors and to affix the
official seal of this Township upon the Agreement.
[Ord. 2013-1, 1/24/2013, § 12]
The Chairman or Vice Chairman of Board of Supervisors, and the
Secretary of this Township are hereby each authorized to execute and
to deliver on behalf of this Township such other instruments, documents
and certificates as the Authority or any other party to the issuance,
sale and delivery of TIF Bonds may reasonably request.[1] Each such instrument, document and certificate shall be
in such form and have such content as the officer of this Township
executing the same, following consultation with the Solicitor of this
Township, may approve, such officer's execution and delivery of the
same to constitute conclusive evidence of such approval.
[1]
Editor's Note: Ordinance No. 1-2019, adopted 11/7/2019, which
extended the term of the District to January 24, 2038, provided: "The
Chairman or Vice Chairman of Board of Supervisors, and the Secretary
of this Township are hereby each authorized to execute and to deliver
on behalf of this Township the Amendment and such other instruments,
documents and certificates as the Parties may reasonably request."
[Ord. 2013-1, 1/24/2013, § 13]
The Authority may propose, and the Board of Supervisors of this
Township may adopt, by ordinance or in such other manner as shall
be permitted by law, such amendments to the project plan and the District
as are deemed advisable, but only in accordance with the Act.
[Ord. 2013-1, 1/24/2013, § 14]
Any reference in this Part to any officer of this Township shall
be deemed to refer to his or her duly qualified successor in office,
if applicable.
[Ord. 2013-1, 1/24/2013, § 15]
This Township approves, ratifies and confirms all action heretofore
taken by its officers, its designated representative or representatives,
and other persons on its behalf in connection with the undertakings
herein contemplated, to the extent not inconsistent with this Part.
