civus
ResolutionADOPTED

Resolution 020522

Authorizing the Committee on Commerce and Economic Development to hold hearings into the current state of community reinvestment by City depository banks within low-income and minority neighborhoods in the City of Philadelphia and authorizing the Committee to issue subpoenas to compel the attendance of witnesses and the production of documents and other evidence.

Introduced Sep 12, 2002Committee on Commerce & Economic DevelopmentOfficial record: City of Philadelphia via Legistar

Introduced by

Councilmember GoodeCouncilmember TascoCouncilmember BlackwellCouncilmember RizzoCouncilmember Reynolds BrownCouncilmember ClarkeCouncilmember KrajewskiCouncilmember OrtizCouncilmember MarianoCouncilmember MillerCouncilmember KenneyCouncilmember NutterCouncil President Verna

From the floor

Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.

  1. “To the President of the City of Philadelphia, the Committee on Commerce and Economic Development to which was referred Resolution No. 000691, entitled Resolution calling for hearings into micro enterprise development and neighborhood self-improvement as an economic development strategy in the City of Philadelphia; And Resolution No 020522, entitled resolution authorizing Committee on Commerce and Economic Development…”

    Chief Clerk · Stated Meeting, April 25, 2003 · Apr 25, 2003 · official transcript, this passage

  2. “Thank you. The Chief Clerk will please read the title of Resolution No. 020522. 04/25/03 - STATED - 2ND READING AND FINAL PASSAGE THE”

    Councilwoman Verna · Stated Meeting, April 25, 2003 · Apr 25, 2003 · official transcript, this passage

  3. “It has moved and properly seconded that Resolution No. 020522 be adopted. All in favor will signify by saying aye. (Aye.)”

    Councilwoman Verna · Stated Meeting, April 25, 2003 · Apr 25, 2003 · official transcript, this passage

  4. “The ayes have it and Resolution No. 020522 has been adopted. The Chief Clerk will please read the title of Resolution No. 030038. 04/25/03 - STATED - 2ND READING AND FINAL PASSAGE THE”

    Council President Verna · Stated Meeting, April 25, 2003 · Apr 25, 2003 · official transcript, this passage

Status timeline

  1. Sep 12, 2002ADOPTED & REFERRED · CITY COUNCIL
  2. Sep 12, 2002READ · CITY COUNCIL
  3. Sep 12, 2002Introduced · CITY COUNCIL
  4. Nov 12, 2002HEARING NOTICES SENT · Committee on Commerce & Economic Development
  5. Nov 12, 2002HEARING HELD · Committee on Commerce & Economic Development
  6. Nov 12, 2002RECESSED · Committee on Commerce & Economic Development
  7. Apr 23, 2003HEARING NOTICES SENT · Committee on Commerce & Economic Development
  8. Apr 23, 2003HEARING HELD · Committee on Commerce & Economic Development
  9. Apr 23, 2003REPORTED FAVORABLY · Committee on Commerce & Economic Development
  10. Apr 25, 2003FAVORABLY RECOMMENDED; CONSIDERATION AT END OF CALENDAR · CITY COUNCIL
  11. Apr 25, 2003ADOPTED · CITY COUNCIL

Official documents

Documents open on the City of Philadelphia’s legislative site.

Full text

Read the full text as published

..Title Authorizing the Committee on Commerce and Economic Development to hold hearings into the current state of community reinvestment by City depository banks within low-income and minority neighborhoods in the City of Philadelphia and authorizing the Committee to issue subpoenas to compel the attendance of witnesses and the production of documents and other evidence. ..Body WHEREAS, The lending practices of financial institutions have a measurable impact on the City's tax base, quality of life and overall economic viability and competitiveness; and WHEREAS, Economic viability and competitiveness comes from strengthening, and providing opportunities within, all areas of the City; and WHEREAS, The Greater Philadelphia Capital Access Report issued by Councilman W. Wilson Goode, Jr. and a subsequent report by the City Controller's Office have shown that disparities in lending exist by neighborhood income level and racial composition within Philadelphia; and WHEREAS, In an attempt to address these inequities in capital access, the Council of the City of Philadelphia passed Bill Number 000546, introduced by Councilman Goode, authorizing the creation of the Philadelphia Community Reinvestment Commission to plan and implement community reinvestment strategies within the City of Philadelphia; and WHEREAS, In a further attempt to provide information to the citizens of Philadelphia and address this issue, the Council passed Bill Number 020047, also introduced by Councilman Goode, requiring each bank authorized as a City depository bank to provide the City with an annual statement of community reinvestment goals; now therefore RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the Committee on Commerce and Economic Development is hereby authorized to hold hearings into the current state of local community reinvestment by City depository banks in low-income and minority neighborhoods within the City of Philadelphia; and FURTHER RESOLVED, That in furtherance of such an investigation, the Committee is hereby authorized to issue subpoenas as may be necessary or appropriate to compel the attendance of witnesses and the production of documents to the full extent authorized under Section 2-401 of the Philadelphia Home Rule Charter. ..End