PRINTER'S NO. 517
No. 437 Session of 2003
INTRODUCED BY CONTI, KITCHEN, KUKOVICH, MOWERY, LOGAN, WAUGH,
COSTA, TARTAGLIONE, O'PAKE AND ERICKSON, MARCH 13, 2003
REFERRED TO URBAN AFFAIRS AND HOUSING, MARCH 13, 2003
AN ACT
1 Creating the Urban Investment Fund to provide funds for
2 community revitalization and infrastructure repair; imposing
3 duties upon the Department of Community and Economic
4 Development; and making an appropriation.
5 The General Assembly of the Commonwealth of Pennsylvania
6 hereby enacts as follows:
7 Section 1. Short title.
8 This act shall be known and may be cited as the Urban
9 Investment Fund Act.
10 Section 2. Creation of fund.
11 There is hereby established a program with a separate account
12 in the State Treasury to be known as the Urban Investment Fund,
13 which shall be a special nonlapsing fund administered by the
14 Department of Community and Economic Development.
15 Section 3. Fund allocation.
16 The Urban Investment Fund shall be allocated as follows:
17 (1) Fifty million dollars shall be given to neighborhood
18 improvement districts created under the act of December 21,
1 1998 (P.L.1307, No.174), known as the Community and Economic
2 Improvement Act, or the act of December 20, 2000 (P.L.949,
3 No.130), known as the Neighborhood Improvement District Act,
4 for any of the following purposes: rehabilitation or re-use
5 of any space on the second floor or higher of a commercial
6 office building; demolition of any vacant physical structure
7 which is eligible for grants under the act of May 24, 1945
8 (P.L.991, No.385), known as the Urban Redevelopment Law;
9 rehabilitation of any blighted property which is eligible for
10 grants under the Urban Redevelopment law; or purchase of any
11 building having cultural, historic or tourism value which,
12 after restoration, is to be used for public purposes or
13 resold.
14 (2) Fifty million dollars shall be given to neighborhood
15 improvement districts created under the Community and
16 Economic Improvement Act or the Neighborhood Improvement
17 District Act for repair of roads, bridges, sidewalks,
18 pedestrian walkways, water pipes, storm water drainage,
19 wastewater pipes and other utility lines.
20 Section 4. Appropriation.
21 The sum of $100,000,000, or as much thereof as may be
22 necessary, is hereby appropriated to the Urban Investment Fund
23 for the fiscal year July 1, 2003, to June 30, 2004, to carry out
24 the provisions of this act.
25 Section 5. Effective date.
26 This act shall take effect in 60 days.
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