Title
Proposing an amendment to The Philadelphia Home Rule Charter to provide for the creation, appointment, powers and duties of a Philadelphia Community Reinvestment Commission; and providing for the submission of the amendment to the electors of Philadelphia.
Body
WHEREAS, Under Section 6 of the First Class City Home Rule Act (53 P.S. ยง13106), an amendment to The Philadelphia Home Rule Charter may be proposed by a resolution of the Council of the City of Philadelphia adopted with the concurrence of two-thirds of its elected members; and
WHEREAS, As Philadelphia continues to grow, our City needs to be at the cutting edge of innovative ways and means to reinvest in our neighborhoods, grow our economy and create jobs for all of our citizens; and
WHEREAS, In other municipalities across the United States, there are models of innovative public-private-philanthropic partnerships to provide more capital for reinvestment in their communities; and
WHEREAS, City Council believes that the public sector can play an important role in forging multi-sector partnerships and developing new strategies for coordinating investments to benefit Philadelphia's communities; and
WHEREAS, By establishing the Philadelphia Community Reinvestment Commission the City can replicate and build upon successful models by bringing together banks, foundations, anchor institutions and Community Development Financial Institutions to identify opportunities for private, public and philanthropic entities to collaborate and leverage their resources for the public good; and
WHEREAS, Council previously considered, and adopted on February 23, 2017 following a public hearing, Resolution No. 160902, and now wishes to make certain technical changes to that Resolution by adopting this Resolution, which provides for the same amendment in substance to the Home Rule Charter; now, therefore, be it
RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the following amendment to Th...
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