With the key assumption that more of Philadelphia needs to see the benefits of the recent wave of investment that has come to the city's urban core, politicians at varying levels of government are considering multiple policy options.
Ariel Ben-Amos, a lecturer from the Urban Studies Program at the University of Pennsylvania, writes an editorial in favor of the value capture enabled by legislation under consideration by the state of Pennsylvania as a mechanism for investing in neglected neighborhoods like North Philly, West Philly, and Southwest Philly.
Ben-Amos is appealing for support of Senate Bill 385, which would "make it possible for SEPTA and the city to repay [transportation improvement] bonds using the increase in liquor, sales and use, personal income, corporate net income and other taxes that are generated by the fixed-up infrastructure, instead of just property taxes." Senate Bill 375 would also "let SEPTA and the city use these funds to finance planning for construction projects," according to Ben-Amos.
The opinion article sets the policy recommendations of SB 375 in contrast to a recent proposal by Councilmember Allan Domb to "double the city’s controversial tax abatement from 10 to 20 years for properties worth less than $250,000."
The underlying assumption of either proposal, however, is key: that Philadelphia is looking for ways to parlay the investments of recent years in Center City farther out into long-neglected neighborhoods.
Read the full story: Insider: How to Incentivize Development In Philly’s Overlooked Neighborhoods Read more at http://www.phillymag.com/citified/2016
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