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Jump Street Tax Increment Financing District Redevelopment Plan Gets Key Amendments

Official:Amending an ordinance approved February 3, 1999 (Bill No. 980705), which created the Jump Street Tax Increment Financing District, by approving the amended project plan for the redevelopment of the District submitted to City Council by the Philadelphia Authority for Industrial Development and changing the term of the District 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: September 28, 2000

Signed: December 14, 2000

: Committee of the Whole

planning renewal taxation

Plain-Language Summary

This bill amends an existing law to redevelop a Tax Increment Financing District called Jump Street, allowing for changes to the project plan and extending its term.