No. That was just to make some grammatical changes because we felt the wording of that provision was subject to misinterpretation. So it's not making any substantive changes. It's just changing the words to make it clearer.
"Annually, the City shall submit," is that what we're changing?
"Annually, the City shall submit a report to the Council summarizing all expenditures made during the previous year." That's the new amendment, right?
Do you want to go 339 10/17/06 - FINANCE - BILL 051089, ETC. to 8(c) next on ?
The Service Agreement, Exhibit-A. We're substituting a new Service Agreement --
It comes after the ordinance itself. It's the one that says Service Agreement Between the Philadelphia Authority for Industrial Development and the City of Philadelphia. And the new Service Agreement that we are proposing is simply an additional -- we have additional description in there of the program categories exactly as was contained in my testimony. We just felt that the Service Agreement should be as specific as the testimony we gave you.
It's Exhibit-A after the bill. It's the entire Exhibit-A.
All 340 10/17/06 - FINANCE - BILL 051089, ETC. right. Where are we now?
Could you please for me tell me where you've made changes in the Service Agreement, what page. A new Service Agreement has been submitted. What changes were made?
The most substantive change, Councilwoman, is that we added an Exhibit-A to that, which is the criteria piece that I was describing before.
It says A-1 at the bottom. It's way back in the agreement. The agreement is probably 18 pages and then there's A-1 after it, A-2 19 and A-3. 20
I'd 21 suggest you not do this again during this 22 Administration.
They added 341 10/17/06 - FINANCE - BILL 051089, ETC. Exhibit-A to Exhibit-A. It contains program guidelines.
Should I go on to Exhibit-B? And there the first change is that we added "and other emerging corridors" with the El Centro de Oro provision. As I mentioned in the testimony, we think that's not only -- that gives us more flexibility to address other neighborhoods.
Ms. Naidoff, the Committee is still reviewing Exhibit-A. The Committee is still reviewing program guidelines on Exhibit-A. (Pause.)
And in Exhibit-B, the first change is to add after the phrase "Centro de Oro" the phrase "and other emerging corridors," which I mentioned in my testimony.
It's on B-1. 342 10/17/06 - FINANCE - BILL 051089, ETC.
That's on B-1. Thank you. The next change is at the bottom of that page, B-1, and that is, in the smaller grants program, we originally had proposed that the grants would be up to a maximum of $250,000, except where there are budgets that are above a million, we would go up to 500,000, and we're now changing that, eliminating that and sticking with the $250,000 limit for all grants under that program. So the funding will not exceed $250,000 to any grantee.
The top of B-2, it's just a language change. We changed the word "matching" to "ability to leverage other funds." It's a more correct description of what we're intending. We're really not looking for matching funds. We're looking for the ability to leverage funds. 343 10/17/06 - FINANCE - BILL 051089, ETC. The next change on B-2 is to be more specific about the composition of the Committee, and we mention there the Chair of the Committee on Finance, the Chair of the Committee on Parks, Recreation and Cultural Affairs, and I believe the earlier version just said interagency participation or interagency members, and we're saying specifically the Commerce Director, the Managing Director and the Finance Director would work with those two City Councilmembers.
The next is on B-3. It's down towards the bottom of the page. We're changing the words "non-tax-exempt bond sources" to "future indebtedness," and that's on the advice of bond counsel to provide some flexibility in case we need to make some of the bonds taxable. I'll skip the other items on B-3 because they are the same as we just 344 10/17/06 - FINANCE - BILL 051089, ETC. mentioned, which is the bracketed parts just indicate that they're coming out. And the same thing on B-4. The next change is on B-5, the program budget, and we're eliminating the "targeted demolition on commercial corridors."
Because it's duplicative of the item above. And then we add at the bottom of Page B-5, we have the two footnotes. The first one allows the reallocation within a range of ten percent, depending on how the expenditures actually work out. And the second is to conform to the language that we talked about before about future indebtedness. There's a footnote on B-6 at the bottom which addresses the issue that Councilwoman Tasco asked before about, the $5 million in administrative fees, and talks about the fact that it's for the costs of issuance and insurance. 345 10/17/06 - FINANCE - BILL 051089, ETC.
We already talked about Exhibit-D, the Economic Opportunity Plan. Are there questions from members of the Committee with regard to any of these amendments? (No response.)
Are there questions on this bill or on the other Water Revenue? If not, maybe I'll entertain a motion to conclude the hearing and into our stated meeting. (Duly seconded.)
Thank you. It's been moved and seconded that we will conclude our public hearing, enter into stated meeting. All right. We'll now go to our regular white sheet with our bills listed. The Chair recognizes Councilwoman Blondell Reynolds Brown with regard to a motion on Bill No. 051089. On all of these we're asking for a suspension of the rules. 346 10/17/06 - FINANCE - BILL 051089, ETC.
I move that Bill No. 051089 be reported out of Committee with a favorable recommendation and further move that the rules of Council be suspended to permit first reading at our next Council session. (Duly seconded.)
The ayes have it and, therefore, Bill No. 17 051089 is reported out of Committee with a favorable recommendation and also a recommendation for a suspension of the rules so that this may be heard at our next session of Council. The Chair recognizes Councilman Goode with regard to a motion, with suspension of the rules, for Bill No. 25 060261. 347 10/17/06 - FINANCE - BILL 051089, ETC.
Thank you, Madam Chair. I move that Bill 060261 be reported out of Committee with a favorable recommendation, that the rules of Council be suspended so as to permit first reading at our next Council session. (Duly seconded.)
The ayes have it and, therefore, Bill No. 18 060261 is reported out of Committee with a favorable recommendation and also a recommendation that the rules of Council be suspended so that this may be heard at our next session of Council. The Chair recognizes Councilman DiCicco with regard to adopting the amendment for Bill No. 060260. 348 10/17/06 - FINANCE - BILL 051089, ETC. COUNCILMAN DiCICCO: Thank you, Madam Chair. I move that the amendment to Bill No. 060620 be approved. (Duly seconded.)
The ayes have it and, therefore, Councilman DiCicco, we will ask you for a motion on the amended bill. COUNCILMAN DiCICCO: Thank you, Madam Chair. I move that Bill No. 060620 as amended be reported out of this Committee with a favorable recommendation and a further recommendation that the rules of Council be suspended. (Duly seconded.)
All in favor will say aye. (Aye.) 349 10/17/06 - FINANCE - BILL 051089, ETC.
The ayes have it and, therefore, Bill No. 7 060620 as amended is reported out of Committee with a favorable recommendation and also with a suspension of the rules. The Chair recognizes Councilman Ramos with regard to Bill No. 060627.
Thank you, Madam Chair. I move that Bill No. 060627 be reported out of Committee with a favorable recommendation and further move that the rules of Council be suspended to permit first reading of this bill at our next Council meeting. (Duly seconded.)
Opposed? (No response.) 350 10/17/06 - FINANCE - BILL 051089, ETC.
The ayes have it and, therefore, Bill No. 4 060627 is reported out of Committee with a favorable recommendation and also for a suspension of the rules. The next bill, 060687, is being held at the request of the sponsor. The Chair recognizes Councilwoman Blondell Reynolds Brown with regard to Bill No. 11 060688.
Madam Chair, I move that Bill No. 060688 be reported out of Committee with a favorable recommendation and further move that the rules of Council be suspended to permit first reading at the next scheduled session. (Duly seconded.)
Opposed? (No response.) 351 10/17/06 - FINANCE - BILL 051089, ETC.
The ayes have it and, therefore, Bill No. 4 060688 is reported out of Committee with a favorable recommendation and also for a suspension of the rules so that this may be heard at our next session of Council. The Chair recognizes Councilman Goode with regard to approving the amendment to Bill No. 060690.
Thank you, Madam Chair. I move that the amendment to Bill No. 060690 be approved. (Duly seconded.)
The ayes have it and so the amendment is adopted. The Chair now recognizes Councilman Goode with regard to a motion 352 10/17/06 - FINANCE - BILL 051089, ETC. on the amended bill.
Thank you, Madam Chair. I move that Bill 060690 as amended be reported out of Committee with a favorable recommendation, that the rules of Council be suspended so as to permit first reading at our next Council session. (Duly seconded.)
The ayes have it and, therefore, Bill No. 19 060690 as amended will be reported out of Committee with a favorable recommendation and also for a suspension of the rules. The Chair recognizes Councilman DiCicco with regard to Bill No. 060691. COUNCILMAN DiCICCO: Thank you, Madam Chair. I move that Bill No. 060961 353 10/17/06 - FINANCE - BILL 051089, ETC. be reported out of this Committee with a favorable recommendation and a further recommendation that the rules of Council be suspended. (Duly seconded.)
The ayes have it and, therefore, Bill No. 15 060691 is reported out of Committee and also with a suspension of the rules so that it may be heard at our next session of Council. The Chair recognizes Councilman Ramos with regard to Bill No. 060692, and we will ask that the amendments that we've just discussed be approved.
I move that the amendments as previously described regarding Bill No. 060692 be adopted. 354 10/17/06 - FINANCE - BILL 051089, ETC. (Duly seconded.)
The Chair now recognizes Councilman Ramos for a motion on the amended bill for 060692.
I move that Bill No. 060692 as amended be reported out of Committee with a favorable recommendation and further move that the rules of Council be suspended to permit first reading of this bill at our next Council meeting. (Duly seconded.)
Opposed? (No response.) 355 10/17/06 - FINANCE - BILL 051089, ETC.
Therefore, Bill No. 060692 as amended will be reported out of Committee with a favorable recommendation and also with a suspension of the rules. The Chair recognizes Councilwoman Reynolds Brown with regard to Bill No. 060693.
Madam Chair, I move that Bill No. 060693 be reported out of Committee with a favorable recommendation and further move that the rules of Council be suspended. (Duly seconded.)
Therefore, Bill No. 060693 will be reported out of Committee with a favorable recommendation and also for a 356 10/17/06 - FINANCE - BILL 051089, ETC. suspension of the rules. Councilman Goode, would you give us a motion with regard to 060696.
Thank you, Madam Chair. I move that Bill 060696 be reported out of Committee with a favorable recommendation, that the rules of Council be suspended so as to permit first reading at our next Council session. (Duly seconded.)
The ayes have it and, therefore, Bill No. 21 060696 will be reported out of Committee with a favorable recommendation and also with a suspension of the rules. Our final bill for today, Councilman DiCicco, would you give us a 357 10/17/06 - FINANCE - BILL 051089, ETC. motion with regard to Bill No. 060701. COUNCILMAN DiCICCO: Thank you, Madam Chair. I move that Bill No. 060701 be reported out of Committee with a favorable recommendation and that the rules of Council be suspended. (Duly seconded.)
The ayes have it and, therefore, Bill No. 17 060701 is reported out of Committee with a favorable recommendation and also with a suspension of the rules so that it may be heard at our next session of Council. This ends our hearing. Let me thank all of you who are here. Let me thank this wonderful Committee. It wasn't an easy day, but thank you all. (Committee on Finance adjourned 358 10/17/06 - FINANCE - BILL 051089, ETC. at 6:35 p.m.) - - - 359 CERTIFICATE I HEREBY CERTIFY that the proceedings, evidence and objections are contained fully and accurately in the stenographic notes taken by me upon the foregoing matter on October 17, 2006, and that this is a true and correct transcript of same. ______________________________ MICHELE L. MURPHY RPR-Notary Public (The foregoing certification of this transcript does not apply to any reproduction of the same by any means, unless under the direct control and/or supervision of the certifying reporter.)