Official:Creating the Schmidts Plaza Tax Increment Financing District and approving the project plan of the Philadelphia Authority for Industrial Development ("PAID") for the redevelopment of the Schmidts Plaza Tax Increment Financing District being the area generally bounded by Second street on the west, Girard avenue on the north, Laurel street on the south, and Hope 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 DiCicco
Introduced: April 13, 2000
Signed: June 8, 2000
: Committee of the Whole
Status: Signed into Law, step 4 of 4
This bill creates a tax increment financing district in the Schmidts Plaza area to fund redevelopment projects. The Philadelphia Authority for Industrial Development will oversee the project and make changes to zoning, streets, and public facilities.
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