PASSED
The enacted measure changes the requirements for banks and other institutions that hold City of Philadelphia deposits. Each depository must provide annual goals and lending information for small-business loans, home mortgages, home-improvement loans, and community-development investments in low- and moderate-income neighborhoods, as well as a long-term plan to address lending and investment disparities; the City Treasurer must withdraw City funds from institutions that do not comply.
Amending Chapter 19-200 of The Philadelphia Code, entitled "City Funds - Deposits, Investments, Disbursements" by amending certain requirements of City depositories; all under certain terms and conditions.
Action by CITY COUNCIL
A motion was made that this matter be PASSED. The motion carried by the following vote:
Roll Call
| Member | Vote |
|---|---|
| Anna Cibotti Verna | Yes |
| Blondell Reynolds Brown | Yes |
| Brian J. O'Neill | Yes |
| Darrell L. Clarke | Yes |
| Donna Reed Miller | Yes |
| Frank J. DiCicco | Yes |
| Frank Rizzo | Yes |
| Jack Kelly | Yes |
| James F. Kenney | Yes |
| Jannie L. Blackwell | Yes |
| Joan L. Krajewski | Yes |
| Juan F. Ramos | Yes |
| Marian B. Tasco | Yes |
| Michael A. Nutter | Yes |
| W. Wilson Goode, Jr. | Yes |