Title
Adding Chapter 21-1600 of The Philadelphia Code, entitled "Housing Trust Fund," to create the Philadelphia Housing Trust Fund and establish the purposes for which monies in the Fund may be used; creating ongoing funding for the Fund by amending Section 10-1001 of The Philadelphia Code, entitled "Fees of Commissioner of Records," by increasing certain fees for the recording of deeds and mortgages and related documents; and calling for the Creation of the Housing Trust Fund Oversight Board; all under certain terms and conditions.
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THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Legislative Findings.
Council finds that:
(1) There is a critical shortage of affordable and accessible housing in the City of Philadelphia.
(2) Many of Philadelphia's communities need assistance in order to begin or continue the process of neighborhood revitalization.
(3) Much of the City's housing stock is in need of repair.
(4) City programs that assist homeowners to repair their homes have a proven effect of reducing housing abandonment and homelessness. Programs that target home repairs to a specific area, or reinforce other investment, can be particularly effective.
(5) Approximately half of the housing units in Philadelphia were built prior to 1956, and are inaccessible to people with disabilities who use wheelchairs.
(6) Additional housing production and preservation resources will support and strengthen the Neighborhood Transformation Initiative.
(7) There are more than 275 other cities, counties and states around the country that have created Housing Trust Funds to promote affordable housing.
(8) Therefore, creating a Philadelphia Housing Trust Fund is sound public policy that will provide needed resources to support affordable housing development, housing preservation, and neighborhood revitalization and strengthen the Neighborhood Transformation Initiative.
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