Official:Amending Section 10-1000 of The Philadelphia Code, entitled "Fees," to exempt the Land Bank from paying City recording fees in connection with property it acquires; amending Chapter 16-700, entitled "Philadelphia Land Bank," to provide for the leasing out of Land Bank property; and amending Chapter 19-1400, entitled "Realty Transfer Tax," to exempt the Land Bank, and certain transactions involving the Land Bank, from payment of realty transfer tax; all under certain terms and conditions.
Sponsor: Councilmember Quiñones Sánchez
Introduced: March 2, 2017
Signed: May 11, 2017
: Committee on Finance
Status: Signed into Law, step 4 of 4
This bill exempts the Philadelphia Land Bank from paying city recording fees when it acquires property and allows the Land Bank to lease out its properties for short-term leases without council approval.
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