WHEREAS, Pursuant to Bill No. 010694, as amended by Bill No. 020036, Council must approve, by resolution, an annual Program Statement and Budget for the expenditure of proceeds of Neighborhood Transformation Initiative (NTI) bonds; and
WHEREAS, The City Controller, on October 14, 2009, completed an audit of the Land Acquisition funds authorized and expended under NTI, to date; and
WHEREAS, The Administration has transmitted to Council a proposed annual Program Statement and Budget for Fiscal Year 2010, reflecting the findings of the Controller's audit; and
WHEREAS, Council now wishes to approve the annual Program Statement and Budget for Fiscal Year 2010; now, therefore
RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, THAT The annual Program Statement and Budget for the expenditure of the Neighborhood Transformation Initiative (NTI) Bond Proceeds for Fiscal Year 2010, attached hereto as Exhibit A, is hereby approved.
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