City Council
Council to Use Future Tax Revenue to Fund Infrastructure for North Side Esplanade (Ferris Wheel) Development.
Most new tax revenue from a planned North Side development would be reinvested on-site and in Manchester. Right now, the area brings in $84,000 a year in taxes, and that's projected to reach $8 million after the project. Council gave preliminary approval to creating the tax financing district, with a final vote next Tuesday. Future apartments and shops will still need separate approvals.
Written by Amy Whipple
- Council President Lavelle clarified that the motion before the council is solely for creating the TRID—a financing tool that leverages future tax revenue to fund transit-oriented development (TOD) projects. Future developments, including high-end and affordable apartments and retail/dining establishments, will need additional approvals.
- The area currently generates $84K in annual taxes. After the project’s completion, it is projected to generate an estimated $8 million, with 75% reinvested on-site and in the Manchester neighborhood; the remaining 25% would still more than double the current tax base.
- In a preliminary vote, the council enthusiastically approved the plan and commended Councilperson Lavelle for involving Manchester residents in advocating for their needs. A final vote is scheduled for next Tuesday’s general meeting. The plan also requires approval from County Council and the Pittsburgh Public School Board.