PASSED

The enacted ordinance declares that it is desirable for The Hospitals and Higher Education Facilities Authority of Philadelphia to finance the refinancing of acquisition loans for seven properties owned and operated by SPECIAL PEOPLE IN NORTHEAST, INC. (SPIN) in Northeast Philadelphia. The financing would use proceeds from previously authorized 1999 notes and remain subject to the existing $5.6 million limit for the initial and supplemental projects.

Declaring that it is desirable for the health, safety and welfare of the people in the area served by SPECIAL PEOPLE IN NORTHEAST, INC., a Pennsylvania nonprofit corporation, for The Hospitals and Higher Education Facilities Authority of Philadelphia to participate in the financing of certain projects for SPECIAL PEOPLE IN NORTHEAST, INC., including the refinancing of acquisition loans for properties located at 7516-18 Claridge street; 4315 Enfield road; 14029 Erwin street; 333 Fanshawe street; 9218 Academy road; 6323-25 Newtown avenue; and 2834 Nightingale road.