Title
Amending Chapter 19-3200, entitled "Keystone Opportunity Zone And Economic Development District," by providing for extensions of the term of benefits for certain properties, under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 19-3200 of The Philadelphia Code is amended to read as follows:
CHAPTER 19-3200. KEYSTONE OPPORTUNITY ZONE AND ECONOMIC DEVELOPMENT DISTRICT.
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ยง 19-3203. Authorization of Exemption, Abatement or Credits from Certain Taxes.
(1) The provisions set forth in subsections (.1) through (.6) below, shall apply as follows:
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(h) with respect to real property or business activity, as applicable, attributable to certain parcels in the Keystone Opportunity Zone (as designated by Section 19-3201(1)), more particularly identified in subsection (4) of this Section, effective upon the later of (i) January 1, 2011, and (ii) the date on which such parcel is occupied by a qualified business (or, with respect to the exemption from real estate taxes set forth at subsection (.1) below, the date on which such parcel becomes developed), and continuing through and including December 31, 2017; provided that the exemption from sales and use tax set forth at subsection (.5) below shall be effective on January 1, 2011:
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(4) The benefits provided for in subsection (1)(h) shall apply to:
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(B) the following parcels in the PIDC Northeast Industrial Parks (West) Keystone Opportunity Subzone (as designated by Section 19-3201(1)(d)):
(.1) Certain unoccupied parcels in what is known colloquially as PIDC Industrial Parks, identified in Attachment A-4 to the Ordinance enacting this subsection.
(.2) Certain unoccupied parcels in what is known colloquially as Byberry Industrial Park West, identified in Attachment A-2 to the Ordinance enacting this subsection.
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(G) the following parcels in ...
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