COUNCIL OF THE CITY OF PHILADELPHIA COMMITTEE ON FINANCE Room 400, City Hall Philadelphia, Pennsylvania Wednesday, October 7, 2026 10:18 a.m. PRESENT: COUNCILWOMAN KATHERINE GILMORE RICHARDSON, CHAIR COUNCILWOMAN NINA AHMAD COUNCILMAN MICHAEL DRISCOLL COUNCILMAN CURTIS J. JONES, JR.
Good morning. Good morning. Thank you all so much. I now note that the hour has come to begin today's hearing. Clerk, will you please call the roll to take attendance. Members who are in attendance will please indicate that you are present when your name is called.
I am present. Thank you. A quorum of the committee is now present. This hearing is now called to order. This is the public hearing of the Committee on Finance regarding Bill No. 260691. Clerk, will you please read the title of the bill.
Bill No. 18 260691, an ordinance authorizing and approving the execution and delivery of a Service Agreement between The City of Philadelphia, Pennsylvania and Philadelphia Authority for Industrial Development relating to the financing of the buildout, construction, equipping, installation and implementation of improvements for the development of a forensics laboratory for the Philadelphia Police Department at a specified property or properties owned or leased, and operated, by the City; approving the issuance by such Authority of bonds, notes or other evidences of indebtedness in one or more series to finance or refinance the costs of such project and authorizing and approving the obligation of the City to pay in full when due the Service Fee and other amounts payable under the Service Agreement; authorizing certain City officers to take certain actions required to issue such bonds, notes or other evidences of indebtedness; covenanting that the City will make necessary appropriations in each of the City’s fiscal years to provide for, and will make timely payments of, the Service Fee and other amounts due under the Service Agreement; and authorizing City officials to take other necessary or appropriate actions to effectuate the purposes of this Ordinance; all under certain terms and conditions.
Thank you. Thank you very much. Before we call the first panel we have here to testify, I just want to note for the record that this day is a long time coming. I know that we all have been working very hard on this $40 million bond initiative that's centered in Councilmember Jamie Gauthier District. I did have an opportunity to speak with her regarding this initiative, and we are ready to proceed. Prior to calling the first panel, is there any member here wishing to give very brief remarks prior to recalling the first panel?
Thank you. The Chair recognizes Councilmember Jones.
Thank you, Madam Chair, and I concur. This has been a long, winding road, but an essential part of the criminal justice process. All of us have been down to the old lab where we've seen things like evidence. More guns than I've ever seen in one place. More drugs than I've ever seen in any place. And the fact that some of the processing of ballistics and other essential tools for justice are delayed, not to mention that the individuals that work there are in small cubicles. And I don't understand spacing of that and how they maintain their professional workforce. But I'm excited about this day. And so, thank you. And that was as brief as I could do.
It was brief no matter how long it took. We thank you, our Chair of Public Safety --
Okay. Our Chair of Public Safety, we want to say thank you for all of your work, for all the tours that you've taken us on, on all of these facilities in the public safety portfolio. We recognize that this is something the public has been asking us for to really modernize the back end of the police operation. And so, we're glad that this day is finally here and that we were able to work out all the details to make it to this moment. I now recognize Councilmember Ahmad for very brief remarks.
Thank you, Madam Chair. Good morning, everyone. This is a long time coming and I'm so pleased. I have spent a lot of my time in labs. Before I ran for office, I was a scientist. I did genetics research. So when people talk about a crime lab, I don't just picture a building. I picture the bench, the samples, the people working late to get a result, right. And having visited the previous crime lab, I can tell you our forensic staff are among the best in the country. But for years, we have asked them to do great work in a building that's too small, too old. Evidence has waited on shelves. Survivors and families have waited along with it. So this is an auspicious and momentous occasion for us to say the City of Philadelphia is stepping up and making sure we're solving our crimes. And I also wanted to make sure that we are properly staffed beyond just opening this. I yield back my time, Madam Chair. But today is a good day.
Thank you. Thank you very much, Councilmember Ahmad, and thank you so much for your work. Clerk, will you please call the first panel we have to testify on Bill No. 260691.
Jacqueline Dunn, City Treasurer, followed by Matthew Bowman, Deputy City Treasurer for Debt. (Witnesses approached witness table.)
Good morning. Thank you so much for being here. Please state your name for the record and proceed with your testimony. CITY TREASURER DUNN: Good morning, Chair and members of the Finance Committee. I am Jackie Dunn, City Treasurer. Here with me today is Deputy City Treasurer Matt Bowman and representatives from the Department of Public Property and the Philadelphia Police Department. We are here to testify in support of Bill 260691. This bill would authorize the City to enter into a service agreement with Philadelphia Authority for Industrial Development, or PAID to finance a portion of capital improvements for the forensics lab project at 4101 Market Street. Through a bond issuance, bonds would be issued in an aggregate amount up to $40 million, plus related costs of issuance, credit enhancement and discount. The bonds would be secured by the City's obligation, under the Service Agreement to budget and appropriate annually amounts necessary to pay the service fees, which would be sufficient to pay the debt service on these bonds. Such service fee payments are included in the approved FY27 budget and FY27 through '31 Five Year Plan. In May 2025, City Council passed a companion bill, 250323, to permit the City to enter into a long-term lease for the forensics lab site. This lease was signed on December 17, 2025 and construction began at that time. The projected construction schedule extends through late April 2027. Thank you for your consideration and the opportunity to testify. I respectfully request that the committee report the bill 10 with favorable recommendation and a suspension of the rules so as to permit first reading at the next session of Council. Thank you. And we are happy to answer any questions that you may have.
Thank you. Thank you very much for your testimony and for your work on this. Matt, you're here just to answer questions?
Just state your name for the record and your title so we know that you're here.
Excellent. Thank you very much for being here. Are there any questions or comments from members of the committee for this panel? (No response.)
Okay. You know what I'm going to ask. If you could just talk about the firms that will be working through the deal, if that's something you can share at this time. And you know why I'm asking. CITY TREASURER DUNN: Yes, absolutely. In terms of underwriting, we have two firms, given the size of the transaction is smaller relative to some of the other City borrowings. But Raymond James is the senior underwriter and Stern Brothers is the co-senior.
I'm sorry. May you repeat that again? CITY TREASURER DUNN: Raymond James.
Okay. CITY TREASURER DUNN: Which has local offices in the city for wealth management, and Stern Brothers. Despite the name, it's is a woman-owned investment banking firm.
Okay. That will continue to be important to me on every bond deal and bond authorization that comes through this committee. And I have to say that for the record, that we're supporting local businesses, disadvantaged businesses. So they have an opportunity to work on these deals as well. CITY TREASURER DUNN: Absolutely. We appreciate your support on that, and that is important to us as well.
Very much so. Are there any additional questions or comments for these witnesses? (No response.)
Okay. Seeing none, we thank you very, very much for your testimony and for your work. And we thank you for being here. Are there any additional panelists who were not called or who are present in the chambers at this time? (No response.)
And is there anyone else here to provide testimony or public comment on Bill No. 260691? (No response.)
Okay. Seeing none and no further testimony, we will begin with the public comment portion. Are there any witnesses or names of individuals who have signed up for public comment?
Okay. Thank you very much. Is there anyone else here wishing to give public comment that has not done so as of this time? (No response.)
Okay. Seeing none and given that we have no further witnesses, panels or comments, we will now conclude the public hearing and go into our public meeting. We will now begin the public meeting on the previously mentioned bill, which is Bill No. 7 260691. Clerk, will you please call the roll to take attendance. Members who are in attendance will please indicate that you are present when your name is called.
Present. And the Chair notes for the record the presence of Councilmember Isaiah Thomas. Thank you. A quorum of the committee is present. The Chair now recognizes Councilmember Driscoll for a motion on Bill No. 17 260691.
Thank you, Chair. I move that Bill No. 21 260691 be reported from this committee with a favorable recommendation and further move that the rules of Council be suspended to permit first reading of this bill at the next session of Council. (Duly seconded.)
The Chair notes for the record that the motion has been seconded by Councilmember Jones. It has been moved and properly seconded that Bill No. 11 260691 be reported from this committee with a favorable recommendation and further move that the rules of Council be suspended as to permit first reading of this bill at the next session of Council. All those in favor of the motion will indicate by stating aye. (Aye.)
The ayes have it and the motion carries. Bill No. 4 260691 will be reported from this committee with a favorable recommendation, noting that the rules of Council be suspended as to permit first reading of this bill 9 at the next session of Council. Seeing no further business before the Committee on Finance this morning, thank you all so much for being here. And this concludes the Committee on Finance for today. Thank you very much for your attendance and for your participation. Have a great day. - - - (Committee on Finance concluded at 10:30 a.m.) - - - C E R T I F I C A T I O N I, hereby certify that the proceedings and evidence noted are contained fully and accurately in the stenographic notes taken by me in the foregoing matter, and that this is a correct transcript of the same. __________________________________ TANEHA CARROLL