Title
Amending Title 19 of The Philadelphia Code, entitled "Finance, Taxes and Collections," by enacting a new Chapter, entitled "City Incentives for Rapid Growth and Expansion," providing for monetary incentives to encourage rapid development of vacant and abandoned property in the City, all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Title 19 of The Philadelphia Code is hereby amended to read as follows:
TITLE 19. FINANCE, TAXES AND COLLECTIONS
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CHAPTER 19-3900. CITY INCENTIVES FOR RAPID GROWTH AND EXPANSION
§ 19-3901. Declaration of Policy.
The purpose of this Chapter is to provide monetary incentives for rapid redevelopment of vacant or abandoned property in the City.
§ 19-3902. Short Title.
This Chapter shall be known as and cited as the City Incentives for Rapid Growth and Expansion program, or CIRGE.
§ 19-3903. Definitions.
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(1) Department. The Department of Revenue of the City.
(2) Eligible property. A vacant property located within the City purchased by a bona fide buyer, other than the owner, at a Tax Sheriff's Sale, purchased on or after the effective date of this Chapter, where the owner of the property has no right of redemption, and in which the buyer satisfies all outstanding municipal debts levied on the property.
(3) Substantial improvements. Repair, construction or reconstruction, including alterations and additions, having the effect of rehabilitating a structure so that it becomes habitable or attains a higher standard of housing safety, health or amenity or is brought into compliance with laws, ordinances or regulations governing housing standards, but in no event shall ordinary upkeep and maintenance be deemed a substantial improvement.
§ 19-3904. Tax Sales Incentives Rebate Program.
(1) A buyer of an eligible property may receive a refund of one-half of the total dollar amount collected by the C...
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