Philadelphia Hotel Industry Secures Special Levy Funding for Downtown Improvements

Official:Continuing the Philadelphia Hospitality Improvement Levy District (the “District”), a business improvement district encompassing certain existing and future hotel properties within the boundaries of the City of Philadelphia (the “City”), and continuing the Philadelphia Hospitality Improvement Levy District Corporation (“PHiL DC”) to serve as the neighborhood improvement district management association for the District; approving a new plan for the District, including a list of proposed programs and services related to the development and promotion of the hotel and tourism industry in the City and County of Philadelphia and their estimated cost; providing for special assessment fees to be levied on eligible hotel property owners within the District to fund such programs and services; authorizing the Director of Commerce, on behalf of the City, to execute an agreement with PHiL DC relating to the District; and reauthorizing PHiL DC to assess eligible property owners within the District and collect or cause to be collected special assessment fees to be used in accordance with the approved plan; all in accordance with the provisions of the Community and Economic Improvement Act, and under certain terms and conditions.