City of Philadelphia - File #: 070969

• File #: 070969
• Version: 0
• Type: Resolution
• Status: ADOPTED
• File created: 11/1/2007
• In control: Committee on Legislative Oversight
• Final action: 11/1/2007
• Title: Authorizing Council's Legislative Oversight Committee to hold public hearings to investigate the expenditure of proceeds of Neighborhood Transformation Initiative bonds by the City and other agencies.
• Sponsors: Councilmember Campbell, Councilmember Greenlee, Councilmember Rizzo, Councilmember Goode, Councilmember Savage, Councilmember Kenney, Councilmember Tasco, Council President Verna, Councilmember Blackwell, Councilmember DiCicco, Councilmember Reynolds Brown, Councilmember Miller, Councilmember Krajewski, Councilmember Clarke, Councilmember Kelly, Councilmember Ramos, Councilmember O'Neill

Date	Ver.	Action By	Action	Result	Tally
11/1/2007	0	CITY COUNCIL	Introduced	Pass
11/1/2007	0	CITY COUNCIL	READ
11/1/2007	0	CITY COUNCIL	ADOPTED & REFERRED

Title
Authorizing Council's Legislative Oversight Committee to hold public hearings to investigate the expenditure of proceeds of Neighborhood Transformation Initiative bonds by the City and other agencies.
Body
WHEREAS, Under Bill No. 010694, as amended by Bill No. 020036, Council must approve, by resolution, an annual Program Statement and Budget for the expenditure of proceeds of Neighborhood Transformation Initiative ("NTI") bonds; and

WHEREAS, Section 7(a) of Bill No. 010694, as amended, states that any expenditure of NTI bond proceeds must be in accordance with a current or previously approved annual Budget; and

WHEREAS, Section 7(d) of Bill No. 010694, as amended, provides that in the absence of a Land Bank management program approved by Council (and no such program has yet been approved), no real estate shall be acquired with the proceeds of NTI bonds "unless City Council shall have specifically approved such acquisition by resolution or ordinance." Section 7(d) further provides that "[a]ny bid package for demolition and encapsulation work funded with Bond proceeds must be submitted to, and approved, in writing, by the District Councilperson whose District is affected directly by such demolition and encapsulation work prior to the advertisement for bids"; and

WHEREAS, Council is concerned that certain real estate has been acquired with the proceeds of NTI bonds without the required Council approval, and given that concern, the question arises as to whether other expenditures of NTI bond proceeds might have been made in violation of Bill No. 010694, as amended, or other provisions of law or contract; and

WHEREAS, The approved NTI budgets provide for the acquisition of properties in particular Council districts, and when such a property is sold, the proceeds should be used to replenish the budget for acquisitions in the same Council district. Council is concerned that real estate acquired with NTI bond proceeds is being disposed of without ...