READ AND PASSED

This lapsed bill would have allowed Philadelphia’s Housing Trust Fund to be divided into separate sub-funds for recording-fee revenue and construction impact tax revenue. It would have set rules for appropriating and spending that money, including support for affordable housing and homeownership programs, and designated the Department of Planning and Development’s Division of Housing and Community Development to administer the fund.

Amending Chapter 21-1600 of The Philadelphia Code, entitled "Housing Trust Fund," to authorize the establishment of separate sub-funds to receive, respectively, revenues attributable to recording fees and revenues attributable to certain payments required upon construction of certain real estate; to provide for and authorize the manner in which such revenues may be appropriated and spent; and to designate the agency within City government responsible for administering the Housing Trust Fund; all under certain terms and conditions.