Community Corner
Sewickley TIF Plan Advances to Allegheny County Council
If the TIF is approved, the county would pay a portion of the costs for infrastructure and other improvements involving a multi-use development in the heart of the business district.
Allegheny County Council will consider a resolution at its upcoming meeting authorizing the pursuit of a tax increment financing (TIF) plan in Sewickley.
The TIF district involving a multiuse development in the heart of downtown Sewickley is essentially bounded by Beaver Street, Broad Street, Thorn Street and the rear of the properties on the west side of Walnut Street.
Peter Friday, president of Forbes Trail Development Co., is overseeing the development that includes office, retail and residential space, along with a public parking garage.
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All three of the property’s taxing bodies—the Quaker Valley School District, Allegheny County and Sewickley Borough—must all agree to the TIF plan. Sewickley council approved the plan in July and the school board in October.
Under Pennsylvania’s TIF act, local taxing bodies have the authority to cooperate in providing financing for developments of blighted areas to increase the tax base, provide new employment opportunities and improve the general economy.
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The taxing bodies would divert a portion of taxes collected from the property to put it back into financing a portion of the costs for infrastructure and other improvements.
A ground breaking on the first of three planned phases is expected in May.
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