Philadelphia PAID Seeks 113 Million in State Funds to Bolster City Revitalization Efforts

Official:Authorizing the Philadelphia Authority for Industrial Development ("PAID") to file an application with the Office of the Budget, Commonwealth of Pennsylvania, under the Redevelopment Assistance Capital Program ("RACP"), in an aggregate amount not to exceed One Hundred Thirteen Million Seven Hundred Seventy Thousand Dollars ($113,770,000) to assist in the development of Children's Hospital of Philadelphia, University of Pennsylvania Cancer Care Facility, Fox Chase Cancer Center, Girard Avenue Streetscape, El Centro de Oro, Mount Airy USA, Point Breeze Revitalization Project, Beech Corporation - Broadway 1600 North Broad Street and Cecil B. Moore Avenue, Calder Museum, One Pennsylvania Place, Please Touch Museum at Memorial Hall, Philadelphia Theater Company, Greater Philadelphia Film Office Soundstage, National Museum of American Jewish History, Independence Mall, Schuylkill Riverfront, the Professional Development Center at the University of Pennsylvania, the Heritage Tourism Experience Facility, and the Arthur Ashe Youth Tennis Center; and authorizing the City to enter into an agreement with PAID in furtherance of grant requirements; all under certain terms and conditions.