PRINTER'S NO. 3989
No. 773 Session of 2004
INTRODUCED BY HABAY, BALDWIN, CAPPELLI, CRUZ, DeLUCA, DENLINGER,
HORSEY, JAMES, LAUGHLIN, METCALFE, MUSTIO, REICHLEY, SAYLOR,
SCAVELLO, T. STEVENSON, THOMAS AND TURZAI, JUNE 8, 2004
REFERRED TO COMMITTEE ON LOCAL GOVERNMENT, JUNE 8, 2004
A RESOLUTION
1 Directing the Joint State Government Commission to undertake a
2 study of the Urban Redevelopment Authority of Pittsburgh and
3 the Pittsburgh Development Fund.
4 WHEREAS, By Pittsburgh City Council Resolution Number 963,
5 effective December 21, 1994, the Pittsburgh City Council
6 approved a cooperation agreement with the Urban Redevelopment
7 Authority of Pittsburgh; and
8 WHEREAS, The cooperation agreement authorized the Urban
9 Redevelopment Authority to issue taxable bonds netting
10 approximately $60 million; and
11 WHEREAS, The cooperation agreement authorized the City of
12 Pittsburgh to irrevocably assign a portion of its receipts from
13 a 1% sales, use and hotel excise tax within Allegheny County to
14 repay such taxable bonds over a period of 20 years; and
15 WHEREAS, The $60 million fund created by the issuance of
16 taxable bonds by the Urban Redevelopment Authority is known as
17 the Pittsburgh Development Fund; and
18 WHEREAS, The Pittsburgh Development Fund has been
1 administered by the Urban Redevelopment Authority for various
2 purposes, including the stimulation of residential, office,
3 retail, commercial and industrial development throughout the
4 City of Pittsburgh; and
5 WHEREAS, The Pittsburgh Development Fund may have reached the
6 extent of its effectiveness, and it should be determined whether
7 the interests of residents and taxpayers would be best served by
8 the termination of the fund; and
9 WHEREAS, The Pittsburgh City Council by a majority vote in
10 September 2003 found it to be in the interests of residents and
11 taxpayers to immediately terminate the Pittsburgh Development
12 Fund; therefore be it
13 RESOLVED, That the Joint State Government Commission shall
14 undertake a comprehensive study of the Urban Redevelopment
15 Authority of Pittsburgh and the Pittsburgh Development Fund; and
16 be it further
17 RESOLVED, That the commission shall examine all aspects of
18 the past and current administration and operation of the Urban
19 Redevelopment Authority of Pittsburgh and the Pittsburgh
20 Development Fund; and be it further
21 RESOLVED, That the commission shall have access to all
22 financial data relating to the past and current administration
23 and operation of the Urban Redevelopment Authority of Pittsburgh
24 and the Pittsburgh Development Fund; and be it further
25 RESOLVED, That the commission shall prepare an analysis
26 detailing past and current use of funds, past and current bond
27 obligations and past and current programs and program
28 requirements; and be it further
29 RESOLVED, That the commission shall outline a proposal for
30 the potential sale or transfer of the portfolio of the Urban
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1 Redevelopment Authority of Pittsburgh relating to the Pittsburgh
2 Development Fund; and be it further
3 RESOLVED, That the commission shall issue a report on its
4 findings and recommendations to the House of Representatives no
5 later than November 30, 2004.
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