Pittsburgh Public Schools has joined the city in agreeing to authorize the Urban Redevelopment Authority of Pittsburgh to pursue a tax increment financing proposal for portions of a proposed lower Hazelwood redevelopment area.
The board voted 7-1 tonight in favor of pursuing such a plan, but it was not a final vote on a plan. Any plan that is developed would still need to be put to a board vote.
Board member Mark Brentley Sr. opposed the entire business agenda, citing concerns about a lack of minority contracts. Board member Theresa Colaizzi was not present for that portion of the meeting.
City Council approved the pursuit of the TIF earlier this week. The $900 million residential and commercial development that is being planned would potentially be the largest TIF deal in the city's history. It could provide about $90 million in tax benefits.
The site, located on the former site of the LTV coke works, is owned by a group of foundations called Almono, which is composed of the Heinz Endowments, the Benedum Foundation, the Regional Industrial Development Corp. and Strategic Regional Development Inc., which is affiliated with the Allegheny Conference on Community Development.education - mobilehome - neigh_city - breaking
Education writer Eleanor Chute: email@example.com or 412-263-1955.