Resolution 180574

..Title Authorizing the Committee on Housing, Neighborhood Development and the Homeless, to hold hearings to the examine the effects of gentrification in the City of Philadelphia. ..Body WHEREAS, The City of Philadelphia is experiencing an unprecedented boom in residential real estate development; and WHEREAS, Longtime owner-occupants are facing a real threat of losing the financial ability to remain in their homes by virtue of the rising market values and consequent property tax assessments which are the hallmarks of the process of neighborhood change known as gentrification; and WHEREAS, Rising housing cost in these neighborhoods and incomes that are much lower than the area median income have created difficulties for long term residents to remain in neighborhoods they have lived in for many years; and WHEREAS, As the City grows, it is City Council's duty to ensure that those who have roots in their communities can remain in their homes, remain in these communities, and also live with dignity; and WHEREAS, In recent years, City Council has made several attempts to provide relief to current homeowners with programs such as the Homestead Exemption, the Longtime Owner Occupant Program, and more recently, the authorization of $100 million to eliminate the three-to-five year waiting lists for programs that assist with home repairs, long-term disability modifications, and energy-efficiency weatherization; and WHEREAS, Along with the direct effect of possible displacement due to higher market values, indirect effects such as the feelings of marginalization and alienation in one's own neighborhood occur due to the loss of feeling secure in their emotional ecosystem; and WHEREAS, City Council should review development strategies in conjunction with zoning, policing, code enforcement, tax and other policies to determine the role these policies play in neighborhood displacement; and WHEREAS, City Council should conduct public hearings to determine the public opinion of the impact of gentrification in their neighborhoods; now, therefore, be it RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the Committee on Housing, Neighborhood Development and the Homeless, is authorized to hold hearings to examine the effects of gentrification in the City of Philadelphia. ..End