Title
Authorizing transfers in appropriations for Fiscal Year 2004 within the General Fund from the City Representative and the Director of Commerce-Economic Stimulus-City Subsidy for SEPTA to the Director of Finance, and authorizing the Director of Finance to convene a panel for the purpose of administering funds to distressed businesses affected by the Market Street Elevated Reconstruction Project, all under certain terms and conditions.
Body
WHEREAS, SEPTA’s Market Street Elevated Reconstruction Project is building a brand new Market-Frankford Line, and is specifically spending $420 million dollars to reconstruct the western portion of the elevated line in West Philadelphia; and
WHEREAS, such activities have been viewed by local business owners as negatively impacting sale revenues due to blocked sidewalks, fenced-in streets, and signs diverting not only vehicular traffic but pedestrian traffic as well; and
WHEREAS, City Council has had public hearings on the reconstruction project whereby both business owners and residents have voiced their concerns about the length of the project; and
WHEREAS, SEPTA has indicated the Market Street Elevated Reconstruction Project will last until Fiscal Year 2008; now therefore
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. The Director of Finance is hereby authorized to make the following transfers in appropriations for Fiscal Year 2004 within the General Fund.
FROM:
2.52a THE CITY REPRESENTATIVE AND THE DIRECTOR OF COMMERCE - ECONOMIC STIMULUS – CITY SUBSIDY FOR SEPTA
Purchase of Services $500,000
Total $500,000
Total "FROM" Section $500,000
TO:
2.38 DIRECTOR OF FINANCE
Contributions, Indemnities and Taxes $500,000
Total $500,000
Total "TO" Section $500,000
SECTION 2. The Director of Finance is hereby authorized to convene a nine (9) member panel for the purposes of administering funds to distressed businesses that have been affected from the Market Street Elevated Reconstruction Project. This panel shall be known as the West Philadelphia Grant Assistance Panel and shall be composed as follows: One (1) member shall be from SEPTA. One (1) member shall be from the Department of Commerce. One (1) member shall be from the West Philadelphia Business community. One (1) member shall be from the West Philadelphia Residential community. Five (5) members shall be elected officials, or their designee, from the city’s local, state and federal delegations.
SECTION 3. This Ordinance shall take effect immediately.
End