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Amending Chapter 19-200 of The Philadelphia Code, entitled "City Funds - Deposits, Investments, Disbursements," by amending Section 19-201, entitled "City Depositories," by requiring a statement of community reinvestment goals for low and moderate-income neighborhoods in the City of Philadelphia.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Section 19-201 of The Philadelphia Code is hereby amended to read as follows:
Section 19-201. City Depositories.
(2) Each City depository shall:
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(f ) provide the City with an annual statement of community reinvestment goals with regard to providing small business, home mortgage and improvement loans as well as other community development investments within low and moderate-income neighborhoods in the City of Philadelphia.
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SECTION 2. This Ordinance shall take effect immediately.
Explanation:
Italics indicate new matter added.
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