PASSED

The enacted ordinance dissolves the 1600 North Broad Tax Increment Financing District and creates the Avenue North Tax Increment Financing District for about 3.29 acres at 1600–36 North Broad Street, bounded generally by Cecil B. Moore Avenue, Broad Street, Oxford Street, and Carlisle Street. It approves a redevelopment plan for the area and allows certain future increases in property-tax revenue to help finance improvements there; the new district was established for 20 years beginning July 1, 2005.

Dissolving the 1600 North Broad Tax Increment Financing District and creating the Avenue North Tax Increment Financing District, being the approximately three-acre site at 1600-36 North Broad Street generally bounded by Cecil B. Moore Avenue on the north, Broad Street on the east, Oxford Street on the south, and Carlisle Street on the west, all in accordance with the Tax Increment Financing Act, being the Act of July 11, 1990, P.L. 465, No. 113, as amended, and authorizing the Director of Finance and other offices of the City to execute documents and do all things necessary to carry out the intent of this Ordinance.