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 2013; and
WHEREAS, Bill No. 010694, as amended by Bill No. 020036, authorizes Council to amend the annual Program Statement and Budget by Resolution; now therefore,
RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA,
THAT Section 1 of Resolution No. 120538 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 2013, attached hereto as Exhibit A is hereby amended as follows:
* * *
$2,200,000 of Qualified Redevelopment Bond proceeds included in Exhibit A for acquisition in the 2nd Council District shall instead be transferred to affordable housing in the 2nd Council District.
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Explanation:
Bold underline
indicates new matter added.
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