PASSED

This lapsed bill would have required the City Controller, or an independent entity selected by the Controller, to prepare economic impact statements before City Council could approve City or City-related agency funding for certain development projects costing at least $50 million. The statements would have covered project funding, effects on City and School District revenues and services, jobs, local business opportunities, and other economic effects.

Amending Title 17 of The Philadelphia Code, entitled "Contracts and Procurement," by adding a new Chapter requiring the City Controller to prepare or cause to be prepared economic impact statements for certain development projects prior to funding of such projects by the City or a City-related agency; all under certain terms and conditions.