PHILADELPHIA (KYW Newsradio) — Philadelphia City Council has to redo the ordinance it passed in June that authorized bonds to pay for the mayor’s affordable housing project, delaying the project by several months.
The new bill is necessary due to changes City Council made to Mayor Cherelle Parker’s budget for her HOME initiative, which promises 30,000 units of affordable housing.
Parker’s budget reserved some of the initial $200 million in spending for moderate-income Philadelphians. Council wanted more for low-income residents, so they lowered the income limits for some programs. The problem is, they’d already passed a bond ordinance stating that some of the proceeds would go to those with slightly higher incomes…