east liberty station: realizing the potential - City of Pittsburgh

Appendix VII – elTRID
FUNDING AND DEVELOPMENT AGREEMENT
This FUNDING AND DEVELOPMENT AGREEMENT (“Development Agreement”) is
made as of the insert date, by and between the EAST LIBERTY TRID REVITALIZATION
AUTHORITY (the “elTRIDRA”), an authority organized by the City of Pittsburgh,
Pennsylvania (the “City”) under the Urban Redevelopment Law of Pennsylvania, the Act of May
24, 1945, P.L.991, et seq., as amended (the “Act”),
AND
THE insert name of private developer/contractor (the “insert abbreviated name”), a
insert legal description of entity and address,
WITNESSETH:
WHEREAS, the private developer seeks to construct insert description of the transit
oriented development project or public improvement (the “insert name Project”); and
WHEREAS, the City has prepared and on insert date, adopted a detailed plan, the East
Liberty Transit Revitalization Investment District Plan (the “elTRID Plan”), for the for the
redevelopment of the area around the East Liberty Station on Port Authority’s MLK East
Busway; and
WHEREAS, elTRID details infrastructure and transit improvements (the
“Improvements”) necessary to facilitate various phases of transit oriented development around
the Station in accordance with accepted principles; and
WHEREAS, construction of the insert name Project will be facilitated by certain
substantial public on-site improvements (the “insert name Public Improvements”) as
contemplated in the elTRID and fully described in the elTRID Application submitted to
elTRIDRA by private developer; and
WHEREAS, the City has established the East Liberty TRID Boundary (the “elTRID
Boundary”) pursuant to the elTRID, and has agreed to participate in the elTRID Boundary; and
WHEREAS, the County of Allegheny and Pittsburgh Public School District (collectively
with the City, the “Taxing Bodies”) have agreed to participate in the elTRID Boundary; and
WHEREAS, the private developer has requested elTRIDRA finance the a portion of the
insert project name Public Improvements through the issuance by elTRIDRA of its 2012 TRID
Note (hereinafter defined); and
WHEREAS, elTRIDRA desires to assist private developer in the development of the
insert name Project by issuing the 2012 TRID Note; and