City of Philadelphia - File #: 170878

• File #: 170878
• Version: 1
• Type: Bill
• Status: ENACTED
• File created: 10/12/2017
• In control: Committee on Finance
• Final action: 11/30/2017
• Title: Authorizing and approving the execution and delivery of a Service Agreement between the City of Philadelphia and the Philadelphia Redevelopment Authority relating to the financing of a home repair program for City homeowners; approving the issuance by such Authority of bonds, notes or other evidences of indebtedness (including reimbursement obligations related to lines or letters of credit) in one or more series to finance or refinance such program and authorizing and approving the obligation of the City to pay in full when due the Service Fee and other amounts payable under the Service Agreement; authorizing certain City officers to take certain actions required to issue such bonds, notes or other evidences of indebtedness; covenanting that the City will make necessary appropriations in each of the City's fiscal years to provide for, and will make timely payments of, the Service Fee and other amounts due under the Service Agreement; and authorizing City officials to take other necessa...
• Sponsors: Council President Clarke, Councilmember Parker
• Indexes: PHILADELPHIA REDEVELOPMENT AUTHORITY

Date	Ver.	Action By	Action	Result	Tally
12/12/2017	1	MAYOR	SIGNED
11/30/2017	1	CITY COUNCIL	READ AND PASSED	Pass	17:0
11/2/2017	1	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
11/2/2017	1	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
11/2/2017	1	CITY COUNCIL	READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR
11/1/2017	0	Committee on Finance	HEARING NOTICES SENT
11/1/2017	0	Committee on Finance	HEARING HELD
11/1/2017	0	Committee on Finance	AMENDED
11/1/2017	1	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
10/12/2017	0	CITY COUNCIL	Introduced and Referred	Pass

Title
Authorizing and approving the execution and delivery of a Service Agreement between the City of Philadelphia and the Philadelphia Redevelopment Authority relating to the financing of a home repair program for City homeowners; approving the issuance by such Authority of bonds, notes or other evidences of indebtedness (including reimbursement obligations related to lines or letters of credit) in one or more series to finance or refinance such program and authorizing and approving the obligation of the City to pay in full when due the Service Fee and other amounts payable under the Service Agreement; authorizing certain City officers to take certain actions required to issue such bonds, notes or other evidences of indebtedness; covenanting that the City will make necessary appropriations in each of the City's fiscal years to provide for, and will make timely payments of, the Service Fee and other amounts due under the Service Agreement; and authorizing City officials to take other necessary or appropriate actions to effectuate the purposes of this Ordinance; all under certain terms and conditions.

Body
WHEREAS, The City of Philadelphia (the "City") and the Philadelphia Redevelopment Authority (the "Authority") have determined that the Authority will, at the direction of and with the cooperation of the City, undertake pursuant to the Service Agreement (as defined herein) a home repair program for City Homeowners (as defined in Exhibit A hereto) (the "Program"), including the financing or refinancing of certain costs thereof, all as further described in Exhibit A hereto in order to encourage the provision of healthful homes and a decent living environment to improve the health of residents and preserve critical affordable housing; and

WHEREAS, The Council of the City (the "Council") has, by this Ordinance, determined that it is in the best interests of the City to: (i) authorize and approve the execution and delivery of a Service Agreement (the "Service...