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File #: 180360    Version: 0 Name:
Type: Resolution Status: LAPSED
File created: 4/12/2018 In control: Joint Committees on Housing, Neighborhood Development & the Homeless and Commerce & Economic Development
On agenda: Final action:
Title: Authorizing the City Council Committee on Housing, Neighborhood Development and the Homeless and the Committee on Commerce and Economic Development to hold joint hearings regarding growing the City's tax base by analyzing current housing trends, population growth and the City's labor pool as well as the real estate market in order to explore policy solutions to continue to grow the City's tax base.
Sponsors: Councilmember Domb, Councilmember Jones, Councilmember Taubenberger, Councilmember Squilla, Councilmember Green, Councilmember Henon, Councilmember Parker, Councilmember Bass, Councilmember Greenlee, Councilmember Reynolds Brown, Councilmember Oh, Councilmember Quiñones Sánchez, Councilmember O'Neill, Councilmember Blackwell
Attachments: 1. Signature18036000.pdf
Title
Authorizing the City Council Committee on Housing, Neighborhood Development and the Homeless and the Committee on Commerce and Economic Development to hold joint hearings regarding growing the City's tax base by analyzing current housing trends, population growth and the City's labor pool as well as the real estate market in order to explore policy solutions to continue to grow the City's tax base.

Body
WHEREAS, Analyzing and making recommendations on ways to continue to increase the number of new residents coming to our City will result in growing the City's tax base; and

WHEREAS, According to the 2018 Edition of "Emerging Trends in Real Estate," a joint study by PwC and the Urban Land Institute, "Philadelphia had the second-greatest influx of new residents from primary markets of all the secondary markets in the United States"; and

WHEREAS, Studies show that from 2000 to 2016 the population of Center City rose by 27 percent, and that the areas immediately to its north and south rose by 17 percent; and
WHEREAS, Our City has seen a huge influx of millennials which further expands our tax base; and

WHEREAS, According to a 2014 PEW report, Philadelphia's millennial growth over the past decade is the highest of any of the nation's 30 largest cities; and

WHEREAS, In fact, the millennial population in Philadelphia hit its peak in 2005 with 407,797 millennials and in 2015, there were 372,497 millennials living in the metro region, according to U.S. Census Bureau statistics; and

WHEREAS, In addition to attracting more people to our City, analyzing ways to improve and retain our City's labor pool and assist residents in attaining jobs will shift the tax burden by having more people pay taxes; and

WHEREAS, Our City had an average of 714,891 jobs in 2017 and an average of 665,385 Philadelphia residents were employed according to Philadelphia's workforce development strategy; and

WHEREAS, In 2016-2017, job gains were the greatest in ...

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