PASSED

The enacted ordinance creates the Philadelphia Housing Trust Fund to support affordable housing construction, repairs and preservation, accessibility improvements, and assistance to prevent homelessness for eligible lower- and moderate-income households. It raises certain fees for recording deeds, mortgages, and related documents, directing portions of those fees to the fund, and calls for an oversight board to recommend funding priorities and report on the fund’s use. The ordinance is to take effect only after the Pennsylvania General Assembly enacts authorizing legislation.

Adding Chapter 21-1600 of The Philadelphia Code, entitled "Housing Trust Fund," to create the Philadelphia Housing Trust Fund and establish the purposes for which monies in the Fund may be used; creating ongoing funding for the Fund by amending Section 10-1001 of The Philadelphia Code, entitled "Fees of Commissioner of Records," by increasing certain fees for the recording of deeds and mortgages and related documents; and calling for the Creation of the Housing Trust Fund Oversight Board; all under certain terms and conditions.