READ AND PASSED

The enacted ordinance adds specified properties in several Philadelphia Keystone Opportunity zones and subzones, including areas in West Philadelphia, the Navy Yard, and along the Delaware and Schuylkill Rivers. It provides for extended or new periods of tax exemptions, abatements, or credits for qualifying property and business activity, affecting eligible businesses and residents connected to those properties; the changes apply only to expansions and extensions approved by the Pennsylvania Department of Community and Economic Development and for the period allowed under state law.

Amending Chapter 19-3200, entitled "Keystone Opportunity Zone, Economic Development District, and Strategic Development Area," by providing for additional properties to be added to certain zones; and by providing for extensions of the term of benefits for certain properties; all under certain terms and conditions.