PASSED

The enacted ordinance creates the Headquarter Hotel Tax Increment Financing District in the area generally bounded by South Penn Square, Broad Street, 15th Street, and Chestnut Street. It approves the Philadelphia Authority for Industrial Development’s redevelopment plan, allows certain increases in property-tax revenue from the district to help finance improvements there, and authorizes City officials to carry out the plan for 20 years beginning January 1, 2014.

Creating the Headquarter Hotel Tax Increment Financing District, being the area generally bounded by South Penn Square on the north, Broad Street on the east, 15th Street on the west, and Chestnut Street on the south and approving the project plan of the Philadelphia Authority for Industrial Development ("PAID") for the redevelopment of the Headquarter Hotel Tax Increment Financing District and making certain findings and declarations, 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.