Pennsylvania § 17172 - Use of Regional Destination Facilities Fund.

§ 17172. Use of Regional Destination Facilities Fund.

(a) Allocations.--Each long-term budget required by section 17135(b) (relating to initial financial plan) shall provide that the total expenditure of money in the Regional Destination Facilities Fund which has already been made plus the expenditures provided for in the long-term budget are allocated to ensure that the total amount ultimately expected to be deposited in the fund is allocated as follows:

(1) Except for the portion of the Regional Destination Facilities Fund used to defray the operating expenses of the authority as provided in section 17137(b) (relating to operating budget), all of the money in the fund shall be used to fund the construction of regional destination facilities and related developments. Not less than 85% shall be used for the construction of the regional destination facilities, with the remaining 15% available for the construction of related developments, such as parking facilities for a baseball park and football stadium.

(2) Subject to paragraphs (3), (4), (5) and (6), the total amount of the fund shall be allocated in the manner most likely, in the judgment of the authority, to permit the completion of the construction of all of the regional destination facilities.

(3) Not less than 30% nor more than 40% shall be spent on construction of the convention center, but in no event shall the money provided from the fund represent more than 50% of the cost of that project.

(4) Not less than 28% nor more than 32% shall be spent on construction of the baseball park, but in no event shall the money provided from the fund represent more than 50% of the cost of that project.

(5) Not less than 28% nor more than 32% shall be spent on construction of the football stadium, but in no event shall the money provided from the fund represent more than 50% of the cost of that project.

(6) Not less than 5% nor more than 10% shall be spent on construction of the projects described in paragraph (4) of the definition of "regional destination facility," but in no event shall the money provided from the fund represent more than 50% of the individual cost of any of those projects.

(b) Baseball park and football stadium costs.--The authority shall ensure that a portion of the cost of constructing the baseball park and the football stadium shall be paid for from private funding sources. The cost of retiring the bonds issued by the authority organized under the act of July 29, 1953 (P.L.1034, No.270), known as the Public Auditorium Authorities Law, and known as the Stadium Authority of The City of Pittsburgh that are outstanding at the time that the stadium owned by the Stadium Authority of The City of Pittsburgh is used neither for professional baseball games nor for professional football games and the cost of demolishing the stadium may be treated as eligible for funding from the Regional Destination Facilities Fund, but none of those costs may be funded under subsection (a)(3) or (6).

(c) Transfer to Regional Growth Fund.--Any money in the Regional Destination Facilities Fund that cannot be disbursed as a result of limitations under subsection (a) shall be transferred on July 1, 2005, to the Regional Growth Fund.

Cross References. Section 17172 is referred to in section 17171 of this title.