Deborah McColloch, Director: 1234 Market St., 17th Flr., Philadelphia, PA 19107

Philadelphia Empowerment Zone (EZ)

History
The Empowerment Zone is a federally funded initiative established to foster economic development in distressed rural and urban communities. In 1994, Philadelphia and Camden were designated the only bi-state Empowerment Zone and shared a $100 million grant; Philadelphia received $79 million and Camden received $21 million. Both Cities received special tax incentives to attract businesses.

Mission Statement
The Philadelphia Empowerment Zone (EZ) is a community development and economic revitalization program, created federally and guided locally. The EZ guides and funds the implementation of strategies and programs that improve public safety, advance human development, create a welcoming environment, and invigorate commerce.

Collaborating with neighborhood planning boards, community based organizations, businesses, and City agencies, the EZ works to achieve a common vision built upon each neighborhood's strengths. The Philadelphia Empowerment Zone's vision is to create vibrant communities in three designated neighborhoods.

EZ offers place-based resources through lending institutions in each EZ neighborhood.

Contact: 215-686-0450
Executive Director, Philadelphia Empowerment Zone

To visit the Philadelphia Empowerment Zone website
click here.

Renewal Community and Housing
Businesses located in, or wishing to locate in, the RC are eligible for federal tax incentives to expand or improve their buildings. One of the most important components of these incentives is the Commercial Revitalization Deduction (CRD) which is a deduction off a CRD applicant’s federal taxes. The City has $12 million in CRDs to award each year, with a maximum of $10 million per building. A CRD award of $1 million would be worth approximately $170,000 in cash savings on an applicant’s federal taxes. The CRD applies to any nonresidential real property; however, it can also be used on mixed-use buildings if less than 80 percent of a building’s gross rental income is from residential units.
Contact: 215-683-2126
Renewal Community Senior Manager

 


American Street Empowerment Zone
The American Street Financial Services Center (ASFSC) administers a housing predevelopment fund to support developers in the creation of affordable housing.
Budget: $2.43 million

North Central Empowerment Zone
The Housing Trust Fund in the North Central Empowerment Zone provides capital for housing development.
Budget: $4.76 million
Housing Development Revolving Loan Pool
$2.8 million

West Philadelphia Empowerment Zone
The West Philadelphia Empowerment Zone (WPEZ) Housing Trust Fund, in collaboration with the West Philadelphia Financial Services Institution (WPFSI), has established two housing development loan pools to help developers and community development corporations finance low- and moderate-income homeownership and rental projects within the WPEZ neighborhood.
Budget: $4.38 million
Rehabilitation
Parkside Association/Community Ventures
- 32 units $3.18 million
4900 W. Girard Avenue
- new homeownership units
- 14 units $1.5 million
HomeStart
- 6 units $540,000

Housing Trust Fund: $2.3 million
Pool for 0% Home Improvement Loans
- 10 loans approved
Pool to finance development of low- and moderate-income homeownership and rental projects - underwriting project-related costs - credit provider for housing initiative

Policy - Planning
Houses - Programs
Acquisition/Disposition
 
Contact Us/FAQs
City Initiatives
Development Funding

Empowerment Zone

Historic Tax Credits

Homeownership Rehab

Housing Trust Fund

HUD

PHFA

Tax Abatement

Access to Public Records
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