On April 3, 2012, I introduced resolution 2012-0244. The resolution authorizes a cooperation agreement between the City of Pittsburgh, the Urban Redevelopment Authority (URA), and the Sports and Exhibition Authority (SEA) to allocate parking tax revenue generated by the interim parking spaces at the former Civic Arena site to support the development of the Lower Hill and Greater Hill District.
Upon completion of demolition of the Civic Arena and pending the construction of the street grid, approximately 862 interim parking spaces will be created in the footprint of the former arena. The spaces are expected to generate an estimated $500,000 annually in new City Parking Tax revenues. The cooperation agreement directs 50% of this parking tax revenue to the URA for deposit in a Community Development Investment Fund (CDIF). The CDIF stipulates that all monies will go solely to development projects within the Greater Hill District.
The other 50% will be allocated to the SEA to support infrastructure improvements on the Civic Arena site. It will be used specifically for costs related to the design and construction of roads and infrastructure, preparing the site for the future mixed use development planned to bring new housing and commercial space to the Greater Hill District. The term of the cooperation agreement shall extend until there are no remaining interim parking spaces on the Civic Arena footprint.
With the development schedule in place, I view temporary parking to be relatively short term as stakeholders look to build on the site. The sooner infrastructure funding and development is secured, the more temporary the parking will become. In the meantime, it makes sense to leverage the spaces to create additional economic development benefits for infrastructure and for the advancement of projects in the Greater Hill District. The parking spaces created will be new, so the parking tax revenues will also be new, therefore leaving unaffected the parking tax the City currently collects.
I strongly believe that the cooperation agreement will further assist the Hill District neighborhood in its revitalization efforts. It will support the realization of an urban street grid that will serve as a regional asset for the City of Pittsburgh and Southwestern Pennsylvania. This is a key piece in furthering the economic potential of the Greater Hill District, so it is important that we, as a community, come together to communicate fully to City council our support of the Parking Tax Resolution.
The resolution was originally scheduled to come before Council for a final vote April 18, 2012. However, I have requested a one week hold. Please come to City Council on April 25th to voice your support, or email City Council Members at email@example.com in support of this critical resolution for the Greater Hill District and the City of Pittsburgh.
Friday, April 20, 2012
Office of Councilman R. Daniel Lavelle
414 Grant Street, 5th Floor | City County Building
Pittsburgh, PA 15219
telephone: 412-255-2134 | facsimile 412-255-0737