Peduto proposes aid, as in 'Rich Get Richer and Poor Get Poorer'

Toss in a red carpet for good an added touch, like a cherry on top.

Peduto proposes aid Pittsburgh Councilman William Peduto has proposed an alternative approach to aiding Downtown development.

Mr. Peduto wants the city to waive property taxes on new Downtown housing for 10 years, and on new Downtown offices and hotels for five years.

His nonbinding resolution submitted to council calls on Mayor Bob O'Connor and the city's Urban Redevelopment Authority to create a group to study the idea, which he dubbed the Shared Tax Abatement for Neighborhood Development.

It also calls for tax credits for redevelopment of historic property, for construction of environmentally friendly buildings and for funding public art.

It could come up for an initial council vote April 26. Council is considering city participation in an $18 million tax subsidy for PNC Financial Services Group's proposed new Downtown office tower.

Look at all the people, living tax free for the next decade.