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 bonds; and
WHEREAS, Council approved the annual Program Statement and Budget for Fiscal Year 2011; and
WHEREAS, The Commercial Corridor Support program is a vital program for City businesses that provides needed improvements to these corridors throughout the City and, in the 9th Council District, this type of public investment is needed to improve neighborhood business districts; and
WHEREAS, NTI Bond proceeds have been used to clear and assemble parcels for the redevelopment of the Logan Triangle area of the 9th Council District and management information providers are needed to evaluate geotechnical issues in preparation of the redevelopment of this area; now, therefore,
RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA,
THAT Section 1 of Resolution No. 100518 is hereby amended, as follows:
Section 1. The annual Program Statement and Budget for the expenditure of the Neighborhood Transformation Initiative (NTI) Bond Proceeds for Fiscal Year 2011, attached hereto as Exhibit A, is hereby approved, subject to the following changes:
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$1,500,000 included in Exhibit A for land acquisition in the 9th Council District shall instead be budgeted for Commercial Corridor Support for projects in the 9th Council District.
$150,000 included in Exhibit A for land acquisition in the 9th Council District shall instead be budgeted for Other MIS for projects in the 9th Council District.
End