Amending Bill No. 250568 (approved June 13, 2025), entitled “An Ordinance Authorizing and approving the execution and delivery of a Service Agreement between The City of Philadelphia and the Philadelphia Redevelopment Authority relating to the financing of a Housing Opportunities Made Easy (H.O.M.E.) Plan which includes housing production and preservation, home affordability, home owner and renter assistance, related contractor training and support, blight and vacant property reduction, urban beautification, neighborhood infrastructure, and other related programs; approving the issuance by the Authority of bonds, notes or other evidences of indebtedness (including reimbursement obligations related to lines or letters of credit) in one or more series to finance or refinance such plan and authorizing and approving the obligation of The City of Philadelphia to pay in full when due the Service Fee and other amounts payable under the Service Agreement; authorizing certain City officers to take certain actions required to issue such bonds, notes or other evidences of indebtedness; covenant
251065Summary
Bill No. 251065 amends Bill No. 250568, approved on June 13, 2025, to expand the Housing Opportunities Made Easy (H.O.M.E.) Plan. The amendment provides further process for spending and allows City Council to establish maximum Area Median Income (AMI) qualifications for H.O.M.E. programs. The H.O.M.E. Plan encompasses a wide range of initiatives including housing production and preservation, affordability programs, homeowner and renter assistance, contractor training, blight reduction, urban beautification, and neighborhood infrastructure improvements, administered by the Philadelphia Redevelopment Authority, PHDC, and the City.
Citizen Impact
This amendment provides City Council with more oversight on how funds for housing programs are spent and allows them to set income eligibility limits for various housing assistance programs.
Confidence
high