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Authorizing Neighborhood Improvement District Management Associations to provide for interest to accrue upon assessment fees levied on property owners within a Neighborhood Improvement District if such fees are not paid when due, and authorizing liens to be filed for nonpayment of such interest, all under certain terms and conditions.

AI summary

This enacted ordinance allows Neighborhood Improvement District Management Associations to charge interest of 0.75% per month, or part of a month, on overdue assessment fees owed by property owners in the district. It also allows liens to be filed for unpaid interest and applies to assessment fees charged before the ordinance took effect, with interest beginning no earlier than January 1, 2004.

File details

Status
ENACTED
Introduced
September 18, 2003
Sponsors
FJFrank J. DiCiccoMAMichael A. Nutter
View official record ↗

Full text

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. A Neighborhood Improvement District Management Association (“NIDMA”) designated as such by ordinance of Council pursuant to the Community and Economic Improvement Act (53 P.S. § 18101

et

seq.

) may provide that assessment fees levied on property owners within the Neighborhood Improvement District, if not paid when due, shall accrue interest at the rate of three-quarters of one percent (.75%) per month, or part thereof. Liens may be filed for nonpayment of such interest, as provided by law.

SECTION 2. This Ordinance shall apply to all assessment fees levied by a designated NIDMA, including assessment fees levied before this Ordinance became law, provided that no interest shall begin to accrue upon any unpaid assessment fee until January 1, 2004.

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File history

Sometimes city council's record keeping is not complete. This timeline reflects the information on the council's legistar website.
  1. Council actionMAYOR

    Signed

  2. Council actionCITY COUNCIL

    Read

  3. Council actionCITY COUNCIL

    Ordered placed on next week`s second reading calendar

    Council actionCITY COUNCIL

    Suspend the rules of the council

    Pass
    Council actionCITY COUNCIL

    Ordered placed on this day`s first reading calendar

  4. Council actionCommittee on Rules

    Hearing held

    Council actionCommittee on Rules

    Reported favorably, rule suspension requested

    Council actionCommittee on Rules

    Hearing notices sent

  5. Council actionCITY COUNCIL

    Introduced

    Pass
    Council actionCITY COUNCIL

    Referred