City of Philadelphia - File #: 140640

• File #: 140640
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 9/11/2014
• In control: Committee on Commerce & Economic Development
• Final action: 10/16/2014
• Title: Amending Chapter 17-1600 of The Philadelphia Code, entitled "Economic Opportunity Plans," to require that each Economic Opportunity Plan include information concerning the Equity Ownership (as defined) of (1) the contractor, developer and/or recipient of financial assistance required to submit the Plan; (2) participants (as defined) engaged by the contractor, developer and/or recipient of financial assistance; and (3) the eventual owner or owners of the project or contract to which the Plan relates; and requiring periodic reports for the purpose of updating Equity Ownership information; all under certain terms and conditions.
• Sponsors: Councilmember Goode, Councilmember Reynolds Brown
• Indexes: ECONOMIC OPPORTUNITY PLANS
• Code sections: 17-1600 - Economic Opportunity Plans

Date	Ver.	Action By	Action	Result	Tally
10/29/2014	0	MAYOR	SIGNED
10/16/2014	0	CITY COUNCIL	READ AND PASSED	Pass	17:0
10/9/2014	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
10/9/2014	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
10/9/2014	0	CITY COUNCIL	READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR
10/8/2014	0	Committee on Commerce & Economic Development	HEARING NOTICES SENT
10/8/2014	0	Committee on Commerce & Economic Development	HEARING HELD
10/8/2014	0	Committee on Commerce & Economic Development	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
9/11/2014	0	CITY COUNCIL	Introduced and Referred	Pass

Title
Amending Chapter 17-1600 of The Philadelphia Code, entitled "Economic Opportunity Plans," to require that each Economic Opportunity Plan include information concerning the Equity Ownership (as defined) of (1) the contractor, developer and/or recipient of financial assistance required to submit the Plan; (2) participants (as defined) engaged by the contractor, developer and/or recipient of financial assistance; and (3) the eventual owner or owners of the project or contract to which the Plan relates; and requiring periodic reports for the purpose of updating Equity Ownership information; all under certain terms and conditions.

Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Chapter 17-1600 of The Philadelphia Code is hereby amended to read as follows:

CHAPTER 17-1600. ECONOMIC OPPORTUNITY PLANS.

* * *

§ 17-1603. Economic Opportunity Plan: Contents.

(1) ***

* * *

(g) Statement of Equity Ownership.

(.1) For the purposes of this subsection (g), the following definitions of Equity Ownership apply:

(i) For a sole proprietorship: the percentage owned and controlled by a minority person, woman or disabled person.

(ii) For a partnership: the percentage of the beneficial ownership interests held by one or more minority persons, women or disabled persons.

(iii) For a corporation or other entity that is not a sole proprietorship or partnership: the percentage of the beneficial ownership interests in such corporation or entity held by one or more minority persons, women or disabled persons.

(.2) Initial Reporting Requirement. The Plan shall state the Equity Ownership of the contractor, developer and/or recipient of financial assistance; and the Equity Ownership of any Participants identified at the time the Plan is submitted to the certifying agency for certification. If the Covered Project or Contract to which the Plan relates concerns a project that will be privately owned upon...