[HISTORY: Adopted by the City Council of the City of Harrisburg by Ord. No. 5-1994. Amendments noted where applicable.]
Tax Increment Financing Act, Act of July 11, 1990. P.L. 465, as amended (53 P.S. § 6930 et seq.).
Urban Redevelopment Law, Act of May 24, 1945, P.L. 991, as amended (35 P.S. § 1701 et seq.).
A tax increment financing (TIF) district to be known as the "Market Square North Tax Increment Financing District" is hereby created as of May 1, 1994. The TIF district shall continue in existence until the earlier of the date on which the Redevelopment Authority of the City of Harrisburg federally taxable tax increment financing bonds (Market Square North Tax Increment Financing District — Pennsylvania National Mutual Casualty Insurance Company Project), Series of 1994, or refunding bonds thereof, issued by the Authority to finance the payment of project costs as described in the project plan and consistent with the TIF Act, are no longer outstanding or May 1, 2014, unless such date of termination is extended by ordinance duly enacted by the Council of this City, in accordance with the applicable provisions of the TIF Act. In no event shall the TIF district be terminated except in accordance with the applicable provisions of this chapter and the TIF Act.
Editor's Note: See 53 P.S. § 6930 et seq.
The TIF district will extend from the northern intersection of River and Market Streets west to the intersection of Second and Market Streets, north to the intersection of Second and Walnut Streets, west to the intersection of Walnut and River Streets, south to the intersection of River and Strawberry Streets, west on Strawberry Street approximately 160 feet to the end of the existing parking garage, south approximately 60 feet along the edge of said parking garage, east approximately 160 feet along the edge of said parking garage to River Street, then to Market Street.
In accordance with the requirements of the TIF Act, and based upon examination of the conditions currently existing within the TIF district, City Council hereby finds that:
The TIF district is a contiguous geographic area within a designated redevelopment area.
The improvements set forth in the project plan are likely to enhance significantly the value of real property in the TIF district.
The aggregate value of equalized taxable property of the TIF district, plus all existing tax increment districts within the City at this time, does not exceed 10% of the total value of equalized taxable property within the City.
The area comprising the TIF district as a whole has not been subject to adequate growth and development through investment by private enterprise and would not reasonably be anticipated to be adequately developed without the adoption of the project plan.
A feasible method exists for the compensation of individuals, families, and small businesses that will be displaced by the project and for their relocation to decent, safe and sanitary dwelling accommodations within their means, without undue hardship to such individuals, families and businesses.
The project plan conforms to the City and County Master or Comprehensive Plans.
The project plan will afford maximum opportunity, consistent with the sound needs of the community as a whole, for the rehabilitation or redevelopment of the TIF district by private enterprise.
The form of the cooperation agreement between and among the City, the Harrisburg School District and the County of Dauphin is hereby approved. The Mayor, the President of the Council, the City Controller, or the City Clerk, as appropriate, is hereby authorized and directed to execute, attest, seal, and deliver the cooperation agreement in substantially such form with such insertions, deletions and amendments as the officers of this City executing said documents and the Solicitor to this City shall deem necessary.