READ AND PASSED

The enacted ordinance adds six Philadelphia properties to the parcels eligible to seek extended Keystone Opportunity Zone benefits, which can include exemptions, abatements, or credits for certain state and local-related taxes. The extensions take effect only if Pennsylvania approves the application and apply to businesses and residents on the approved parcels for the period authorized by the state, as part of an effort to support economic recovery from the COVID-19 pandemic.

Amending Chapter 19-3200 of The Philadelphia Code, entitled "Keystone Opportunity Zone, Economic Development District, and Strategic Development Area," to provide for additional extensions of certain benefits, for the purpose of facilitating economic recovery from the COVID-19 pandemic, all under certain terms and conditions.