Title
Calling for the City Council Committee on Public Property to hold hearings exploring the economic benefits of the City selling or more fully capitalizing certain municipal assets including selling surplus property and aggressively capitalizing revenue-generating facilities.
Body
WHEREAS, The City of Philadelphia faces ongoing budgetary pressures, thereby increasing the need for the operations of City government to be efficient, effective, and deliver the most value possible to citizens; and
WHEREAS, The City of Philadelphia and its affiliated agencies control thousands of publicly-owned assets, many of which are under-utilized, not well accounted for, and/or of minimal use or benefit to the public; and
WHEREAS, Many of the larger operating assets under the City's control have the potential to be monetized to generate a greater public benefit; and
WHEREAS, The City should consider all publicly-owned assets to be strategic resources with the potential to be capitalized to, for example, improve cash flow, expand investments in infrastructure, and shore up the pension fund; now therefore, be it,
RESOLVED, that the Philadelphia City Council, Calls for the City Council Committee on Public Property to hold hearings exploring the economic benefits of the City selling or more fully capitalizing revenue-generating facilities.
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