Official:Creating the Networks Tax Increment Financing District and approving the project plan of the Philadelphia Authority for Industrial Development ("PAID") for the redevelopment of the Networks Tax Increment Financing District being the area generally bounded by Sixteenth street on the west, Spring Garden street on the north, Hamilton street on the south, and Fifteenth street on the east and making certain findings and declarations, all in accordance with the Tax Increment Financing Act, being the Act of July 11, 1990, P.L. 465, No. 113, as amended, and authorizing the Director of Finance and other officers of the City to execute documents and do all things necessary to carry out the intent of this Ordinance.
Sponsor: Councilmember Clarke
Introduced: April 13, 2000
Signed: June 15, 2000
: Committee of the Whole
Status: Signed into Law, step 4 of 4
This bill creates a tax increment financing district called the Networks Tax Increment Financing District in Center City Philadelphia. It allows the city to finance redevelopment projects through increased property taxes within this area.
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Every City Council bill since 2000, summarized in plain English.