header-left
Share to Facebook Share to Twitter Bookmark and Share
File #: 170878    Version: Name:
Type: Bill Status: ENACTED
File created: 10/12/2017 In control: Committee on Finance
On agenda: 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
Attachments: 1. 170878 - Exhibit Set, As Amended.pdf, 2. CertifiedCopy17087801.pdf
Date Ver.Action ByActionResultAction DetailsVideo
12/12/20171 MAYOR SIGNED  Action details Not available
11/30/20171 CITY COUNCIL READ AND PASSEDPass Action details Not available
11/2/20171 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass Action details Not available
11/2/20171 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR  Action details Not available
11/2/20171 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR  Action details Not available
11/1/20170 Committee on Finance HEARING NOTICES SENT  Action details Not available
11/1/20170 Committee on Finance HEARING HELD  Action details Not available
11/1/20170 Committee on Finance AMENDED  Action details Not available
11/1/20171 Committee on Finance REPORTED FAVORABLY, RULE SUSPENSION REQUESTED  Action details Not available
10/12/20170 CITY COUNCIL Introduced and ReferredPass Action details Not available
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...

Click here for full text