[Adopted 8-1-2005 by Ord. No. 3-2005]
As used in this article, the following words and phrases shall have the meanings set forth below:
- ACT or ACT 113 OF 1990
- The Tax Increment Financing Act, 53 P.S. § 6930.1 et seq., Act of July 11, 1990, P.L. 465, No. 113, as amended by Act of December 16, 1992, P.L. 1240, No. 164, enacted by the General Assembly of the Commonwealth of Pennsylvania.
- The Redevelopment Authority of the County of Westmoreland or any lawful successor thereto.
- County of Westmoreland, Commonwealth of Pennsylvania.
- FINANCE OFFICER
- The legally authorized agent of the Township, school district or county responsible by law for receipt and disbursement of the revenues of such taxing bodies.
- PROJECT COSTS
- 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.
- PROJECT PLAN
- The Westmoreland Business and Research Park Phase IV Revitalization Plan; the TIF proposal prepared by the Redevelopment Authority of the County of Westmoreland and any duly authorized amendments thereto.
- SCHOOL DISTRICT
- The Burrell Area School District in the Commonwealth of Pennsylvania.
- TAX INCREMENT FUND
- 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 TIF proposal and from which money is disbursed to pay project costs related to the district.
- TAX INCREMENT or TAX INCREMENT REVENUES
- 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 definition of "tax increment" contained in the Act.
- TIF PROPOSAL
- The undertakings and activities of the Authority in the Westmoreland Business and Research Park Phase IV Revitalization Area for the elimination and prevention of blight.
- Township of Upper Burrell, County of Westmoreland, Commonwealth of Pennsylvania.
- WESTMORELAND BUSINESS AND RESEARCH PARK PHASE IV REVITALIZATION AREA OR DISTRICT
- The Tax Increment District created pursuant to this article in accordance with the provisions of Act 113 of 1990.
The Westmoreland Business and Research Park Phase IV Revitalization Area shall contain the three parcels of real property identified by Westmoreland County Tax Map Numbers 62-09-00-0-49, 62-09-00-0-65, and 62-09-00-0-81, as the boundaries of such properties exist on the effective date of the District, and as depicted in Exhibit A, attached hereto.
Editor's Note: Exhibit A is on file in the Township offices.
The Westmoreland Business and Research Park Phase IV Revitalization Area Tax Increment Funding district is hereby created as of the effective date of this article. The Tax Increment District shall continue in existence until such time as all project costs are fully paid or 20 years, whichever occurs first. The Township 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 Westmoreland Business and Research Park Phase IV Revitalization Area Tax Increment Financing for all TIF Proposal and identification purposes.
The Township 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, hereby finds that:
The district is a contiguous geographic area within a designated redevelopment area.
The improvements are likely to enhance significantly the value of real property in the district.
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.
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.
No individuals, families or small businesses will be displaced by adoption of the TIF proposal.
The TIF proposal conforms to the Township Comprehensive Plan.
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.
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 inadequate planning of the area, faulty street and lot layout, and economically or socially undesirable land uses.
The Upper Burrell Township Supervisors hereby approve 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 described in the TIF proposal and available pursuant to Section 9 of the Act.
Editor's Note: See 35 P.S. § 6930.9.
The Upper Burrell Township Supervisors hereby authorizes the Township's Finance Officer to deposit all tax increment revenues with funds received from the other taxing bodies into a Tax Increment Fund created for the benefit of the district and directed, controlled and maintained by the fund any other gifts, appropriations, grants, loans, or other revenues to be applied to the district for the purposes of proposal.
The tax increments collected by the Township Tax Collector/Treasurer, 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 proposal tax increment revenues, whether held by the Township's Finance Officer or Authority or otherwise, shall be applied only to the purposes provided for by this article and for no other purpose.
The Authority is hereby authorized to apply tax incremental 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 costs, 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 article. 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 Upper Burrell Township Supervisors hereby designate 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 of Upper Burrell hereby authorizes and directs all appropriate officers of the Township to take all actions necessary to implement the proposal and to further the objectives of the TIF proposal all in accordance with the Act.
The Redevelopment Authority of the County of Westmoreland is hereby directed to establish such dates for receipt of the tax increment revenues as may be consistent with the cooperation agreement, 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 of Upper Burrell 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, guarantees 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.
From and after the effective date of this article to the extent permissible by law, any taxable property situated within the district which may be eligible for tax abatement under the Local Economic Revitalization Tax Act (LERTA), to the extent that such properties shall be required to pay tax increment revenues, shall be required to thereafter not be entitled to receive the benefit of such LERTA abatements. The appropriate officers of the Township are hereby directed to notify any such property owners of the termination of LERTA tax abatements.
Editor's Note: See 72 P.S. § 4722 et seq.
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.