Title
Amending Title 17 of The Philadelphia Code, entitled "Contracts and Procurement," by adding a new Chapter requiring the City Controller to prepare or cause to be prepared economic impact statements for certain development projects prior to funding of such projects by the City or a City-related agency; all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Title 17 of The Philadelphia Code is hereby amended to read as follows:
TITLE 17. CONTRACTS AND PROCUREMENT.
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CHAPTER 17-1100. ECONOMIC IMPACT STATEMENTS FOR CITY-FUNDED DEVELOPMENT PROJECTS.
ยง17-1101. Definitions.
(1) City-funded Development Project. Any development project for which the total project cost is at least fifty million dollars ($50 million) and for which the City or a City-related Agency contributes any portion of the funding pursuant to City Council authorization or approval. For purposes of this definition, the City or a City-related Agency contributes "any portion of the funding" of a project if it contributes money in support of the project either directly or indirectly (such as by making payments under a service or other agreement that support the repayment of bonds issued to fund the project), or if it makes any in-kind contribution to the project, including, but not limited to, any transfer of any interest in real estate, site improvement, environmental remediation, infrastructure improvements which benefit the project (including, but not limited to curbs, sidewalks, streets, drainage or water and sewer mains), loans, grants, tax incentives, tax abatements, tax increment financing, or any other form of public supported financing which in whole or in part is subject to authorization or approval by City Council, condemnation, eminent domain, relocation assistance, or economic stimulus funding.
(2) City-related Agency. Any authority or quasi-public corporation which either:
(a) receives app...
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