READ AND PASSED

The enacted ordinance approved the Center City District’s 2013–2017 plan for business improvements and administrative services, expanded the district to include properties fronting South Broad Street between Pine and Lombard Streets, and authorized assessments on properties in the district. It reduced assessments by 50% for owner-occupied residential properties, including condominiums, and approved estimated debt-service costs. The ordinance also extended the Center City District’s term through 2045, allowing it to refinance existing bonds and issue additional bonds for improvements, and changed its registered office address.

Approving the plan, estimated costs and proposed method of assessment and charges of the Center City District (the "Authority") for and concerning business improvements and administrative services to the central business district of the City of Philadelphia for 2013-2017; amending an Ordinance (Bill No. 1069, approved November 2, 1990, as amended by Bill No. 960631, approved November 25, 1996) adopted pursuant to the "Municipality Authorities Act of 1945," P.L. 382, as amended (the "Act") in order to add to the district to be served by the Authority the properties on the east and west sides of the blocks of South Broad street between Pine street and Lombard street, but including only those properties fronting on South Broad street (the "Added Properties"); authorizing the extension until 2045 of the term of the Authority pursuant to the provisions of the Act to enable the refinancing of existing debt; authorizing a change to the registered office address of the Authority; and approving...