The Administration recommends that the Board of Education authorize the The School District of Philadelphia, through the Superintendent or his designee, to forgive tax liens on 19 specific properties, in order to allow the Philadelphia Redevelopment Authority to move forward with affordable housing projects.
Purpose:
To promote affordable housing projects in the City of Philadelphia
Start date: 8/21/2020
End date: 12/31/2020
Location(s):
Administrative Office(s), for 19 properties in the City
Description: The Philadelphia Redevelopment Authority (PRA) was recently successful in taking ownership of 45 properties in Germantown and Mt. Airy through litigation. These were properties that PRA had mortgages on from the early/mid-1990's to finance development of affordable housing. Unfortunately, the previous ownership entities allowed the properties to fall into deep disrepair. Currently only 18 of the approximately 140 units in those properties are occupied. After PRA completed the process of acquiring the properties, it was discovered that several of the properties have outstanding City and School District tax liens. Nineteen of the properties have outstanding School District tax liens, with a total principal amount of just over $141,000. PRA does not have funds available to satisfy the liens, and has requested that the School District forgive the liens so they can move forward with the process of redeveloping these properties as affordable housing. The City has agreed to forgive all of its liens on the properties.