Title
Amending Chapter 19-3200, entitled "Keystone Opportunity Zone And Economic Development District," by providing for the extension of benefits for certain properties in certain subzones, under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 19-3200 of The Philadelphia Code is amended to read as follows:
CHAPTER 19-3200. KEYSTONE OPPORTUNITY ZONE AND ECONOMIC DEVELOPMENT DISTRICT.
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§ 19-3202. Definitions.
The following words and phrases when used in this Chapter shall have the meanings given to them in this Section unless the context clearly indicates otherwise:
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(2.1) Unoccupied property. As defined and limited in State legislation authorizing the extension of benefits for unoccupied property in certain subzones for a period of seven years.
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§ 19-3203. Authorization of Exemption, Abatement or Credits from Certain Taxes.
(1) (a) Effective as of January 1, 1999, and continuing through and including December 31, 2010, with respect to real property or business activity, as applicable, attributable to the Keystone Opportunity Zone; (b) effective as of January 1, 2001, and continuing through and including December 31, 2013, with respect to real property or business activity, as applicable, attributable to the Keystone Opportunity Expansion Zone; (c) with respect to real property or business activity, as applicable, attributable to each separate Philadelphia Keystone Opportunity Improvement Subzone, effective upon designation by DCED of such subzone (anticipated on or about October 1, 2003) and continuing for a period of fifteen (15) years from the date of such designation, [the following provisions shall apply]; (d) with respect to real property or business activity, as applicable, attributable to the Philadelphia Economic Development District, effective upon designation by DCED of such District (anticipated some time in t...
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