Title
Authorizing the City Council Committee of the Whole to hold hearings examining economic inclusion and diversity participation in professional services, capital projects, construction projects, business contracting, and other contracted work related to the Fashion District Philadelphia project, commonly known as the Gallery at Market East.
Body
WHEREAS, Fashion District Philadelphia, a $575 million project, represents a unique opportunity to reinvent the entire Gallery at Market East, while leveraging significant private investment, improving access to public transit, and promoting economic opportunity through construction and ongoing operations. According to Philadelphia's public-private economic development corporation ("PIDC") this project will involve 2,165 construction jobs during renovations, with a total of 3,950 permanent jobs in the renovated mall, 1,400 of those which will be new jobs. The project also includes a commitment of 25-30% inclusion for women and minorities among tenants of the new mall; and
WHEREAS, On December 7, 2017, the Philadelphia Inquirer reported that Fashion District Philadelphia's opening will be delayed from Spring 2018 until November 2018 according to PREIT CEO, Joseph Coradino. Meanwhile, the City of Philadelphia is providing $55 million in tax increment financing and $58 million in maintenance costs for surrounding public transportation projects over the next four decades. Fashion District Philadelphia represents a remarkable level of renewal efforts and an opportunity to provide a leveled playing field for women, minorities, and historically disadvantaged groups; and
WHEREAS, The City of Philadelphia's Annual Disparity Study for FY 2016 found that 30.7% of the $991 million in City and quasi-public contracts went to M/W/DSBEs, up from 30.6% in FY15. However, Philadelphia's Office of Economic Opportunity reports a moderate growth in the availability of M/W/DSBE firms, 25.6%, which equals to a 0.1% increase over...
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