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File #: 190195    Version: 0 Name:
Type: Resolution Status: LAPSED
File created: 3/14/2019 In control: CITY COUNCIL
On agenda: Final action:
Title: Confirming Council's agreement with a proposed budget for expenditures from the Non-Recording Fee Sub-Fund of the Housing Trust Fund, relating to affordable housing.
Sponsors: Council President Clarke, Councilmember Quiñones Sánchez, Councilmember Squilla
Indexes: HOUSING TRUST FUND
Attachments: 1. Resolution No. 19019500
Title
Confirming Council's agreement with a proposed budget for expenditures from the Non-Recording Fee Sub-Fund of the Housing Trust Fund, relating to affordable housing.

Body
WHEREAS, City Council, in Bill No. 180739 (approved Oct. 17, 2018), authorized the Director of Finance to establish a Non-Recording Fee Sub-Fund of the Housing Trust Fund; and

WHEREAS, The Director of Finance has chosen to establish a Non-Recording Fee Sub-Fund of the Housing Trust Fund; and

WHEREAS, The Mayor has chosen to direct the Director of Finance to deposit $19,131,000 into the Non-Recording Fee Sub-Fund, for the purpose of funding various affordable housing initiatives; and

WHEREAS, The Council authorized such deposit by means of a transfer of appropriations in Bill No. 180740 (approved Oct. 17, 2018); and

WHEREAS, The Director of Finance has made the authorized deposit; and

WHEREAS, The Department of Planning and Development would like to begin spending said money for its intended purposes; and

WHEREAS, The Department of Planning and Development, working in conjunction and cooperation with Councilmembers and Council staff, has prepared a proposed budget for said expenditures, attached as Exhibit "A" hereto; and

WHEREAS, The Department now has requested Council's formal input in establishing said budget; now, therefore, be it

RESOLVED, That City Council hereby determines that it is in accord with the proposed budget for expenditures from the Non-Recording Fee Sub-Fund of the Housing Trust Fund, attached as Exhibit "A" hereto.

Exhibit A

City of Philadelphia Department of Planning and Development:
Proposed Budget for Expenditures from
the Non-Recording Fee Sub-Fund of the Housing Trust Fund


Non-Recording Fee Sub-Fund dollars are to be used toward programs and projects that support Equitable Neighborhood Development for the benefit of households whose annual income, adjusted for size, is less than 120 percent of the area median income as defined by the U.S. Department ...

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