READ AND PASSED

The enacted measure changes Philadelphia zoning rules for certain developments that receive extra floor area, height, or dwelling-unit density in exchange for payments instead of building affordable housing. It requires the payments to be placed in designated affordable-housing funds, with best efforts to use an equal amount within five years on projects in the same Council District, and allows similar payments to satisfy certain affordable-housing requirements in Mixed Income Neighborhoods Overlay Districts.

Amending Section 14-702 of The Philadelphia Code, entitled "Floor Area, Height, and Dwelling Unit Density Bonuses," to add requirements related to the use of payments in lieu of building affordable housing to receive floor area, building height and dwelling unit density bonuses; and amending Section 14-533, entitled "/MIN, Mixed Income Neighborhoods Overlay District," to add requirements related to the use of payments in lieu of building affordable housing to satisfy certain minimum affordable housing building requirements; all under certain terms and conditions.