PASSED

The enacted ordinance removes a specified 57.4-acre property in the 65th Ward near the Delaware River from Philadelphia’s Keystone Opportunity Zone at the request and consent of its owners, to support residential development. The removal of the property’s related tax exemptions, deductions, abatements, and credits will take effect only after the Pennsylvania Department of Community and Economic Development approves the decertification request, and only for the portion it approves.

Removing a portion of a property in the 65th ward of the City, in the vicinity of the Delaware River, from the Philadelphia Keystone Opportunity Zone, subject to the request and consent of the owners of said Property, under certain terms and conditions.