August 3, 2005: Headlines: Figures: COS - Paraguay: Politics: City Government: Pittsburgh Post Gazette: In a high-stakes game of "king of the hill," Mayor Tom Murphy is facing off against the University of Pittsburgh, with time working against him
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August 3, 2005: Headlines: Figures: COS - Paraguay: Politics: City Government: Pittsburgh Post Gazette: In a high-stakes game of "king of the hill," Mayor Tom Murphy is facing off against the University of Pittsburgh, with time working against him
In a high-stakes game of "king of the hill," Mayor Tom Murphy is facing off against the University of Pittsburgh, with time working against him
The mayor is pushing a $49 million plan crafted by Boston-based developer Beacon/Corcoran Jennison to build 200 homes and renovate a community center in the partially revitalized Oak Hill neighborhood, once a public housing slum. Thomas Murphy, Jr., Mayor of the City of Pittsburgh, PA , served as a Peace Corps Volunteers in Paraguay in the 1970's.
In a high-stakes game of "king of the hill," Mayor Tom Murphy is facing off against the University of Pittsburgh, with time working against him
Murphy, Pitt battle for Oak Hill
Mayor wants to build 200 homes at one-time slum; university wants to use 15-acre site for sports complex
Wednesday, August 03, 2005
By Rich Lord, Pittsburgh Post-Gazette
In a high-stakes game of "king of the hill," Mayor Tom Murphy is facing off against the University of Pittsburgh, with time working against him.
[Excerpt].
The mayor is pushing a $49 million plan crafted by Boston-based developer Beacon/Corcoran Jennison to build 200 homes and renovate a community center in the partially revitalized Oak Hill neighborhood, once a public housing slum.
But Pitt wants the 15-acre site for athletic facilities, and is currently outbidding the Murphy-backed developer.
"I've always felt a deep emotional and personal commitment to the tenants to complete this," Murphy said yesterday, as he drove through the 639 homes built in the first phase of Oak Hill, completed in 2003.
"I believe there's a legal commitment to build this development out," he added, since the developer signed on for a full redevelopment.
The university's plan "provides much-needed funding to the [Pittsburgh] Housing Authority," which currently owns the land, countered Robert HIll, Pitt's vice chancellor for public affairs. "The [developer's] financing plan is not a good deal for the city of Pittsburgh, not a good deal for the residents and leaves people wondering why the city is fast-tracking a plan the city can't afford."
Beacon/Corcoran Jennison's financing plan includes $8 million in tax credits from the Pennsylvania Housing Finance Agency, said Miles Byrne, the developer's Oak Hill project director.
Applications to the agency, including complete budgets, are due in October, Byrne said. If that deadline is missed, the next deadline is in the spring, he added, when some people "aren't going to be at the table."
Murphy, for instance, leaves office at year's end.
"If we don't get a tax credit application in by October, this deal is in big trouble," said Byrne.
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Story Source: Pittsburgh Post Gazette
This story has been posted in the following forums: : Headlines; Figures; COS - Paraguay; Politics; City Government
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