Title
Establishing a neighborhood
improvement district consisting of a parcel located at the northeast corner of 15th Street and Chestnut Street, commonly known as 1441 Chestnut Street, to be known as the Headquarter Hotel Neighborhood
Improvement District; designating Philadelphia Authority for Industrial Development to serve as Neighborhood
Improvement District Management Association for the District; approving a plan for the District, including a list of proposed
improvements and their estimated cost, and providing for special financing assessments to be levied on property owners within the District to secure the repayment of tax increment financing indebtedness; authorizing the Director of Commerce, on behalf of the City, to execute an agreement with the Neighborhood
Improvement District Management Association for the District; and authorizing the Neighborhood
Improvement District Management Association to assess property owners within the District and, under certain conditions, collect or cause to be collected a special financing assessment to be used in accordance with the approved plan and approved tax increment financing plan; all in accordance with the provisions of the Community and Economic
Improvement Act.
Body
WHEREAS, Council of the City of Philadelphia is authorized by the Community and Economic
Improvement Act, Act of December 21, 1998, P.L. 1307, No. 174 (53 P.S. ยง18101 et seq.), as heretofore amended, including by Act of May 24, 2016, No. 32 and the Act of May 24, 2016, No. 28 and as the same may be further amended, restated, or supplemented from time to time (as so amended, the "Act"), to establish, by ordinance, neighborhood
improvement districts and to designate certain entities to impose special financing assessments and administer programs and services within such districts in order "to promote and enhance more attractive and safer commercial, industrial, residential and mixed-use neighborhoods; economic growth; increased employ...
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