Official:Creating the Avenue of the Arts Garage Tax Increment Financing District and approving the project plan of the Philadelphia Authority for Industrial Development ("PAID") for the redevelopment of the Avenue of the Arts Garage Tax Increment Financing District being the area generally bounded by Sixteenth Street on the west, Latimer Street on the north, Spruce 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: September 28, 2000
Signed: December 14, 2000
: Committee of the Whole
Status: Signed into Law, step 4 of 4
This bill creates a new tax increment financing district (TIFD) in Center City, which will finance the redevelopment of the Avenue of the Arts Garage area through increased property taxes.
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Every City Council bill since 2000, summarized in plain English.