Resolution 010221

..Title Authorizing City Council's Committee on Commerce and Economic Development to hold hearings into the rising costs of building affordable housing in the City of Philadelphia. ..Body WHEREAS, The City of Philadelphia wishes to maximize affordable housing built in the City; and WHEREAS, Development cost of affordable housing has increased dramatically over recent years; and WHEREAS, There is a limited amount of federal subsidy that is available for developing affordable housing; and WHEREAS, Increased cost reduces the number of units that can be produced; and WHEREAS, Philadelphia has a great need for affordable housing; now therefore RESOLVED, THAT THE COUNCIL OF THE CITY OF PHILADELPHIA, Authorizes City Council's Committee on Commerce and Economic Development to hold hearings into the rising costs of building affordable housing in the City of Philadelphia. ..End