East Passyunk Avenue Business District Extension Clears Council Hurdle Amid Strong Support from Local Businesses

Official:Continuing the East Passyunk Avenue Business Improvement District ("District") beyond its termination date, in an area that generally includes both sides of East Passyunk Avenue from the south side of Federal Street to the east side of South Broad Street, certain blocks of streets that intersect that portion of East Passyunk Avenue, both sides of South Broad Street from the south side of McKean Street to the north side of Snyder Avenue, and the west side of South Broad Street from the south side of Mifflin Street to the north side of McKean Street, and for which East Passyunk Avenue Business Improvement District, Inc. a Pennsylvania nonprofit corporation, is the Neighborhood Improvement District Management Association; approving a final plan for and report concerning the District, including a list of proposed improvements and their estimated cost, and providing for assessment fees to be levied on property owners within the District; authorizing the Director of Commerce, on behalf of the City, to execute an agreement with East Passyunk Avenue Business Improvement District, Inc., relating to the District; and authorizing East Passyunk Avenue Business Improvement District, Inc. to assess property owners within the District a special property assessment fee to be used in accordance with the approved final plan; all in accordance with the provisions of the Community and Economic Improvement Act, and under certain terms and conditions.