Bill 051142

..Title Authorizing the Philadelphia Authority for Industrial Development ("PAID") to file an application with the Office of the Budget, Commonwealth of Pennsylvania, under the Redevelopment Assistance Capital Program, in an aggregate amount not to exceed Three Million Six Hundred Thousand Dollars ($3,600,000) to assist in the development of Billy Penn Warehouse (413 Hope Mission Ministries) and El Centro de Oro "Golden Block"; and authorizing the City to enter into an agreement with PAID in furtherance of grant requirements; all under certain terms and conditions. ..Body WHEREAS, The City and the Philadelphia Authority for Industrial Development ("PAID") desire to obtain funds from the Commonwealth of Pennsylvania's Office of the Budget, in an amount not to exceed Three Million Six Hundred Thousand Dollars ($3,600,000) for the undertaking of approved Capital Budget projects under Section 4(c) of the Housing and Redevelopment Assistance Law as amended; and WHEREAS, Guidelines issued pursuant to the Housing and Redevelopment Assistance Law, as amended, define a blighted area to include portions of an urban community with economically undesirable land uses; and WHEREAS, The City and PAID recognize that blighting influences exist due to economically undesirable land use throughout the City; and WHEREAS, Two projects ("Projects") are being proposed in order to eliminate the existing blighting influence by renovating facilities to house an industrial/commercial business incubator and streetscape improvements; and WHEREAS, The City and PAID desire to advance the necessary development of the above-referenced Projects; and WHEREAS, The Housing and Community Development Program authorizes PAID to file applications for grants; and WHEREAS, The Commonwealth regulations require the City and/or its designated project recipients to assume the provision of the full matching share of the project costs above the aggregate amount of Three Million Six Hundred Thousand Dollars ($3,600,000); and WHEREAS, The Commonwealth regulations require the City to obligate itself to reimburse the Commonwealth for expenditures found to be ineligible and not reimbursed by the project recipient; and WHEREAS, The Commonwealth regulations require the City to enter into a Cooperation Agreement between PAID and the City to create the mechanism to reimburse the state for project expenses found to be ineligible and not reimbursed by the project recipient; and to reimburse the state when warranted for project expenses on projects not completed within the agreed upon term of the grants; and WHEREAS, The Commonwealth regulations require City Council's approval prior to PAID's submission of an application; now, therefore, THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. The City of Philadelphia authorizes the Philadelphia Authority for Industrial Development ("PAID") to file applications for Redevelopment Assistance Capital Program Grants through the Commonwealth of Pennsylvania's Office of the Budget, including all understandings and assurances contained therein, in an aggregate amount not to exceed Three Million Six Hundred Thousand Dollars ($3,600,000) to assist in the development of and improvements to Billy Penn Warehouse (413 Hope Mission Ministries) and El Centro de Oro "Golden Block," as individually described in Capital Budget Project Itemization Act 2002-131 and as described in Exhibit "A" attached hereto and incorporated herein. SECTION 2. The City of Philadelphia authorizes PAID to enter into grant agreements with the Commonwealth of Pennsylvania's Office of the Budget to carry out the purposes of this Ordinance. SECTION. 3. The City and/or its designated project recipients will assume the provision of the full matching share of project costs above the aggregate amount of Three Million Six Hundred Thousand Dollars ($3,600,000). SECTION 4. The City or the designated project recipient will reimburse the Commonwealth for the State's share of any expenditure awarded pursuant to this Ordinance that is found by the Office of the Budget to be ineligible. SECTION 5. The City of Philadelphia and/or its designated project recipients also agree to guarantee that it shall fully complete the projects within the agreed upon term of the grant (including reasonable extensions requested by the City and/or its designated project recipients). SECTION 6: The City Council of Philadelphia also authorizes the City to enter into an agreement with the Philadelphia Authority for Industrial Development ("PAID") whereby the City and/or its designated project recipients, at the discretion of the City, will assume the provision of the full local share of the project costs above Three Million Six Hundred Thousand Dollars ($3,600,000); or to reimburse the Commonwealth for project expenditures for projects not completed within the agreed upon term of the grants. EXHIBIT "A" PROJECT DESCRIPTIONS Billy Penn Warehouse (413 Hope Mission Ministries): The project consists of rehabilitating the building located at 1516-54 North Fifth Street so that it may house an industrial/commercial business incubator. The total project cost is approximately $4.2 million. RACP Grant $2,100,000 El Centro de Oro "Golden Block": The Centro de Oro project uses streetscape improvements to revitalize North Fifth Street between Lehigh and Indiana Avenues to foster a regional identity and a commercial/cultural locale for Philadelphia's Latino community. The project will build on and reinforce other ongoing public and private development. The total project cost is approximately $4 million. RACP Grant $ 1,500,000