Title
Amending Section 14-533 of The Philadelphia Code, entitled "/MIN, Mixed Income Neighborhoods Overlay District," to create a mechanism for satisfying certain use standards related to the construction of affordable housing in the portion of the MIN Overlay District located in the Third Councilmanic District, all under certain terms and conditions.
Body
WHEREAS, the City seeks to preserve existing affordable housing in Philadelphia and incentivize the creation of new affordable housing;
WHEREAS, one way the City has sought to incentivize the creation of new affordable housing is through the /MIN Overlay, which incentivizes private developers to create new, privately owned affordable housing;
WHEREAS, one method for the City to acquire land to support affordable housing development is to encourage the donation of land in exchange for waiving existing affordable housing requirements;
WHEREAS, the City has developed a new option by which property owners potentially can donate land and receive credit for affordable housing the City plans to have constructed on that land, for purposes of satisfying certain affordable housing requirements, including those set forth in the /MIN Overlay;
WHEREAS, the City has entered into an agreement with IBID Associates dated March 17, 2023 to resolve litigation instituted by IBID in the District Court for the Eastern District of Pennsylvania at docket number 22-cv-00954 and this amendment to the /MIN Overlay is intended to, in part, implement Section 3 of that agreement;
WHEREAS, that agreement includes provisions that may serve as a model for the new option;
WHEREAS, pursuant to the agreement, IBID has agreed to transfer a parcel of land to the City;
WHEREAS, the City plans to have approximately 70 units of affordable housing built on the transferred parcel; and
WHEREAS, in exchange for the transfer, the City wi...
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