Resolution 120242
Authorizing the Philadelphia Redevelopment Authority to use NTI bond proceeds for the acquisition of 4700 Parkside avenue located in the Fourth Councilmanic District, under certain terms and conditions.
Introduced by
From the floor
Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.
“I testified at the June 11th Finance hearings and raised the questions to the acquisition of 4700 Parkside Avenue. This was a result of the Council passing Resolution 120242. It is my opinion that the use of the Neighborhood Transformation bond funds violated Resolution 110453 and the original intent of this program. If my instincts are correct, the tax-exempt bonds are no longer tax exempt, which compromises this bi…”
Mr. Skaziak · Stated Meeting, June 28, 2012 · Jun 28, 2012 · official transcript, this passage
“The ayes have it. Resolution 120242 is adopted. We will now move on to Bill No. 120140.”
Council President Clarke · Stated Meeting, March 29, 2012 · Mar 29, 2012 · official transcript, this passage
Status timeline
- Mar 22, 2012Introduced and Ordered Placed On Next Week's Final Passage Calendar · CITY COUNCIL
- Mar 29, 2012ADOPTED · 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 Philadelphia Redevelopment Authority to use NTI bond proceeds for the acquisition of 4700 Parkside avenue located in the Fourth Councilmanic District, under certain terms and conditions. ..Body WHEREAS, In April 2001, Mayor Street unveiled his Neighborhood Transformation Initiative ("NTI"), a five-year strategic plan to preserve and rebuild Philadelphia Neighborhoods by eliminating blighting conditions; creating opportunities for redevelopment and investment, and improving the delivery of City services; and WHEREAS, On February 28, 2002, this Council approved Bill No. 020036, authorizing the issuance of Bonds to fund various programs and activities that support NTI's goals and objectives, including the demolition of dangerous and unsafe residential, commercial and industrial buildings, the assembly of land for development, housing and neighborhood preservation investments, and improvements in management information systems and technologies; and WHEREAS, Bill No. 020036 provides that "No real estate or any interest in any real estate shall be acquired with the proceeds of any Bonds until the Mayor shall have submitted to City Council and City Council shall have approved by resolution a Land Bank management program, unless City Council shall have specifically approved such acquisition by resolution or ordinance"; and WHEREAS, The City and the Philadelphia Redevelopment Authority intend to pursue the use of NTI bond proceeds to assist in the acquisition of land and propose that City Council authorize the use of bond proceeds for such purposes; now, therefore, BE IT RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the Philadelphia Redevelopment Authority may use proceeds of bonds issued pursuant to the authority of Bill No. 020036 to fund the acquisition of 4700 Parkside avenue, the agreement of the Fourth District Council person having been obtained. ..End