Title
Amending Title 19 of The Philadelphia Code, entitled "Finance, Taxes and Collections," to incentivize Affordable Housing development by authorizing tax exemptions pursuant to the Affordable Housing Unit Tax Exemption Act, all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Title 19 of the Philadelphia Code is hereby amended to read as follows:
TITLE 19. FINANCE, TAXES AND COLLECTIONS
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19-1303.6 Authorization to offer Exemptions from Real Estate Taxes for, Improvements to and New Construction of, Affordable Housing Units.
(1) Legislative Findings and Determination of Deteriorated Areas.
The Council finds that:
(a) The Affordable Housing Unit Tax Exemption Act, July 7, 2022 (hereinafter referred to as the "Act"), authorized local taxing authorities to exempt from real estate taxes, improvements to, or construction of Affordable Housing Units in Deteriorated Areas, under certain terms and conditions; and
(b) In accordance with the Act, Council held a public hearing to determine the boundaries of Deteriorated Areas of the City and determined that the following areas of the City are hereby designated a "Deteriorated Area" under the Act:
(.1) The area bounded by John F. Kennedy Boulevard, 15th Street, Glenwood Avenue, 17th Street, Indiana Avenue, 15th Street, Germantown Avenue, Lycoming Street, 16th Street, Hunting Park Avenue, Roosevelt Boulevard, Old York Road, Pike Street, 13th Street, Germantown Avenue, Ontario Street, 13th Street, Clearfield Street, 12th Street, Glenwood Avenue, 13th Street, Spring Garden Street, and Broad Street;
(.2) The First Councilmanic District, as established by Bill No. 220003 (approved February 13, 2022);
(.3) The Second Councilmanic District, as established by Bill No. 220003 (approved February 13, 2022);
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