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Amending Chapter 19-3200 of The Philadelphia Code, entitled "Keystone Opportunity Zone, Economic Development District, and Strategic Development Area," to provide for additional extensions of certain benefits, under certain terms and conditions.

AI summary

The enacted ordinance amends Philadelphia’s Keystone Opportunity Zone rules to add 15 listed properties, including addresses on Eastwick Avenue, North 49th Street, John F. Kennedy Boulevard, Rouse Boulevard, Intrepid Avenue, and Normandy Avenue, to the properties eligible to seek extensions of certain tax benefits. The extensions apply only if approved by Pennsylvania’s Department of Community and Economic Development and may cover sales and use, personal income, corporate net income, and capital stock franchise taxes for businesses and residents at the approved properties.

File details

Status
ENACTED
Introduced
May 16, 2024
View official record ↗

Full text

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Chapter 19-3200 of The Philadelphia Code is hereby amended to read as follows:

CHAPTER 19-3200. KEYSTONE OPPORTUNITY ZONE, ECONOMIC DEVELOPMENT

§ 19-3203. Authorization of Exemption, Abatement or Credits from Certain Taxes.

(5) The benefits provided for in subsection (1)(j) shall apply to:

Street Address

OPA Account Number

(kkkk)

5800 Eastwick Avenue

88-5-484460

(llll)

5900 Eastwick Avenue

88-5-484880

(mmmm)

5946 Eastwick Avenue

88-5-485860

(nnnn)

6000 Eastwick Avenue

40-2-293920

(oooo)

6050 Eastwick Avenue

88-5-485040

(pppp)

1761 N. 49th Street

88-5-897390

(qqqq)

3025 John F. Kennedy Blvd., Office 1

88-3-000060

(rrrr)

3025 John F. Kennedy Blvd., Office 2

88-3-000061

(ssss)

3025 John F. Kennedy Blvd., Office 3

88-3-000062

(tttt)

3025 John F. Kennedy Blvd., Office 4

88-3-000063

(uuuu)

3025 John F. Kennedy Blvd., Office 5

88-3-000064

(vvvv)

3025 John F. Kennedy Blvd., Office 6

88-3-000065

(wwww)

120 Rouse Blvd.

88-3-000015

(xxxx)

1200 Intrepid Avenue, Unit 2

88-3-000029

(yyyy)

1201 Normandy Avenue

88-3-000017

(zzzz)

255 Rouse Blvd.

88-5-764460

SECTION 2. This Ordinance shall be effective upon approval by the Commonwealth Department of Community and Economic Development of an application for the extension of benefits with respect to certain parcels, and only with respect to such parcels for which an extension is granted, and only for such period of time as the Commonwealth provides for exemptions, abatements or credits with respect to sales and use tax, personal income tax, corporate net income tax and capital stock franchise tax for businesses and residents on such parcels, all as set forth in Section 301.3(a)(1)(iii) of the Act of October 6, 1998 (P.L. 705, No. 92), known as the Keystone Opportunity Zone, Keystone Opportunity Expansion Zone and Keystone Opportunity Improvement Zone Act, and related legislation.

End

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 and ordered placed on next week's second reading calendar

    Council actionCITY COUNCIL

    Ordered placed on this day`s first reading calendar

    Council actionCITY COUNCIL

    Suspend the rules of the council

  3. Committee on Finance

    Details not published

    No details have been published for this item. Legistar notes that this meeting's minutes have not been finalized.
  4. Council actionCITY COUNCIL

    Introduced and Referred