REPORTED FAVORABLY

The adopted resolution amended Philadelphia’s Fiscal Year 2004 budget for Neighborhood Transformation Initiative bond proceeds. It increased funding for the demolition of dangerous vacant properties by $25 million, to $53 million, and shifted $1.15 million from the Basic Systems Repair Program to the Adaptive Modification Program, increasing that program’s funding to $3.65 million while reducing Basic Systems Repair funding to $11.15 million.

Amending the Fiscal Year 2004 Program Statement and Budget for the expenditure of the Neighborhood Transformation Initiative (NTI) bond proceeds.