My earlier post, UPMC's "Essential Condition" On Pittsburgh Promise, can be found here. You might want to read it first.
This morning, prior to City Council's meeting on the UPMC Pittsburgh Promise tax credit bill, UPMC issued this additional statement:
“While we fully recognize and support the right and responsibility of City Council to deliberate on the resolution by the Mayor, we wish to clarify that these provisions are standard in all agreements with the City for PILOT payments, Pittsburgh Public Service Fund payments etc and are not unique to the Pittsburgh Promise. Language of this nature is routinely included by non-profits in all such agreements.
Moreover, the City does not necessarily give up future tax revenue in the unlikely event that it gets the right to tax nonprofits. The provisions provide that if the City collects tax revenues; UPMC’s voluntary financial commitment to the Pittsburgh Promise will be reduced proportionately. The City retains this choice.
We fully support the deliberations and given the magnitude of UPMC’s commitment of up to $100 million, public transparency and the involvement of City Council is desirable.”
The above version of the new UPMC statement is actually a revision; another version was e-mailed minutes earlier, but then a correction was sent out.
Below you'll find a screenshot comparing the two. The revised language is in boldface, the old language is crossed out. I'm providing this view of the both versions because comparing the two may provide more precise insight into UPMC's framing of the agreement submitted to City Council.