PASSED

This enacted ordinance expands and updates the boundaries of Philadelphia’s Keystone Opportunity Zone and Keystone Opportunity Expansion Zone, and establishes a Keystone Opportunity Improvement Zone covering areas including Kubach Road, the Naval Business Center, and West Philadelphia. It provides for exemptions, abatements, or credits on certain taxes for qualifying properties, businesses, and residents in designated areas, subject to state designation and other conditions.

Providing for the contingent exemption, abatement or credit of certain taxes within specified geographic areas, including by amending Bill No. 970788-A (approved December 30, 1998), relating to the boundaries of the Keystone Opportunity Zone, and by amending Bill No. 010092 (approved February 28, 2001), relating to the boundaries of the Keystone Opportunity Expansion Zone, and by amending Chapter 19-3200 of The Philadelphia Code, entitled "Keystone Opportunity Zone," by providing for a Keystone Opportunity Improvement Zone, and by amending certain effective dates, all under certain terms and conditions.