Title
Amending Chapter 16-400 of The Philadelphia Code, entitled "Surplus Properties," by adding criteria for evaluating non-competitive dispositions, all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 16-400 of The Philadelphia Code is amended to read as follows:
TITLE 16. PUBLIC PROPERTY
* * *
CHAPTER 16-400. SURPLUS PROPERTIES
* * *
? 16-402. Definitions.
(1) In this Chapter the following definitions shall apply:
* * *
(f) Community Land Trust. An organization that is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code of 1954, whose directors, management and resources are independent of any for-profit corporation or funder, and whose bylaws indicate that the organization:
(.1) Acquires parcels of land, held in perpetuity, for conveyance under ground leases;
(.2) Ensures the permanent affordability of any structural improvements located on its land;
(.3) Serves a defined demographic constituency or a constituency of all individuals who live, work, or worship in the geographic area served by the organization; and
(.4) Has a board of directors that is at least 75% composed of the organization's constituents, as defined in section 16-402(1)(f)(.3).
(g) Ground Lease. The conveyance of land, which may be undeveloped, developed for use as a community garden or open space, or containing a vacant structure, for a specified, long-term period to a lessee who then has the right to develop, improve and use the property for the duration of the conveyance.
(h) Permanent Affordability. The continuous preservation of housing or other structural improvements, pursuant to restrictions of a City contract or government financing agreement, at a sales or rental price that remains affordable to the same economic class of households or ent...
Click here for full text