Category: government

bookmark_borderPhiladelphia Re-fi

Posted on by admin

PHILADELPHIA — Philadelphia’s Office of the City Treasurer led the sale of $154.275 million on general obligation refunding bonds. The refunding refinanced higher cost bonds issued in 2008, saving more than $1.375 million annually for the next 24 years.

The refunding was made possible by the City’s recent bond rating agency upgrades, including a two-notch rating upgrade by Standard & Poor’s Rating Services to A+ with a stable outlook in December 2013. For the first time since the 1970s, the City’s bond rating is in the A category by all of the major rating agencies.

“The success of this bond refunding is further proof that the City of Philadelphia is on the right track. We are focused on ensuring the current and future financial stability of the City,” said Mayor Nutter. “While our improved rating and the interest in our bonds clearly indicate the progress we have made, there is still more work to do. I want to thank City Treasurer Nancy Winkler and her team for their efforts.”

The City sought to refinance the bonds during the summer of 2013 when it was selling bonds for the capital program but chose to delay the refinancing due to insufficient savings.

“We know that January is often a very good time to sell municipal bonds. So, we decided to prepare in December and early January and to be ready to sell if the savings were substantial,” said Nancy Winkler. “The bond upgrades were important for the refinancing because we were able to increase investor participation. Taxpayers benefit when there is more demand for the City’s bonds.”

bookmark_borderPromise Zone

Posted on by admin

PHILADELPHIA, PA — The City of Philadelphia was one of three cities and a total of five areas selected for a Promise Zone designation, a federal initiative to accelerate revitalization efforts in targeted areas. The Promise Zone initiative is led by the White House with support from federal agencies, including the U.S. Department of Housing and Urban Development, U.S. Department of Agriculture, U.S. Department of Education and U.S. Department of Justice.

“Being selected as a Promise Zone is an important step in the transformation process for a neighborhood struggling with high poverty, high crime, high vacancy, low educational attainment and low employment rates,” said Mayor Michael A. Nutter. “Being a Promise Zone will enable the City to align existing resources and apply for new federal funding – building on efforts already at work – through a multi-faceted, focused approach. I want to thank President Obama and his Administration for this recognition and the opportunities it will provide.”

The Promise Zones designation provides a package of tools to help local leaders accelerate efforts to revitalize their communities. The designation:

· Creates a partnership between the federal government and local leaders who are addressing multiple community revitalization challenges with on-the-ground technical assistance to help navigate federal programs and regulations;
· Provides preference points on other federal grants and funding opportunities; and
· Will, if enacted by Congress, provide employer tax incentives to create jobs for Zone residents and attract private capital to disinvested places.

The Mayor’s Office of Community Empowerment and Opportunity (CEO), the City’s community action agency, will serve as the lead agency throughout the Promise Zone process.

“I am thrilled that the Promise Zone designation will provide federal agency support in helping us implement Shared Prosperity, our plan to fight poverty, and for this opportunity to assist residents of several West Philadelphia neighborhoods,” said Eva Gladstein, Executive Director, CEO.
The City’s selected Promise Zone is a nearly two-square mile area in West Philadelphia. Bordered by the Schuylkill River on the east, Girard Avenue on the north, 48th Street to the west and Sansom Street to the south, the Promise Zone is home to 35,315 residents.

“The Administration has created a wonderful opportunity for communities like Mantua to be revitalized, such as increasingly affordable housing and improving safety. Now with the Promise Zone designation, we will be able to bring more resources to our community to address a comprehensive range of issues,” said Michael Thorpe, Chairman of the Board, Mt Vernon Manor.

The proposal was a collaborative effort led by CEO. The Philadelphia Promise Zone plans to use the area’s assets, including its proximity to transportation, strong anchor institutions, the Lancaster Avenue commercial corridor, Fairmount Park and the Philadelphia Zoo, to support the creation of jobs, increase economic activity, improve educational opportunities, reduce violent crime, and leverage private investment in a defined geographic area of high need. The proposal will leverage more than $575 million in funding and anticipates future public and private investment of $250 million.

Implementation and supporting partners include Drexel University, Mt. Vernon Manor, Philadelphia LISC, People’s Emergency Center, Philadelphia School District, Philadelphia Redevelopment Authority, the City’s Commerce Department, Philadelphia Housing Authority, Office of Housing and Community Development and others. Fairmount Ventures and the Mayor’s Office of Grants supported the grant’s development.

“Drexel is a committed partner with the City, Mt Vernon Manor and PEC in this important work. We are proud to bring the full weight of our academic and institutional resources to support this West Philadelphia neighborhood,” added John Fry, President, Drexel University.

The White House intends to designate 20 Promise Zones across the country by the end of 2016.

bookmark_borderCity Employees Under Investigation

Posted on by admin

Following an investigation, Philadelphia Inspector General Amy Kurland announced that 13 Assistant Recreation Leaders in the Department of Parks and Recreation have been terminated or have resigned for violating the Philadelphia Home Rule Charter by improperly working for other government agencies while being employed by the City of Philadelphia.

“Every City employee must follow the rules and be held accountable when they do not,” said Mayor Michael A. Nutter. “I’m pleased that the Inspector General’s Office is stepping up enforcement of this Charter provision and ensuring that it is being applied fairly and consistently across City departments.”

Of the 13 employees, ten are full-time school teachers, two are U.S. Postal Service workers and one is a Pennsylvania Attorney General’s Office investigator.  Their terminations from City employment do not affect these full-time jobs. Section 8-301 of the Home Rule Charter forbids City employees in most circumstances from holding a “position of profit” with another government agency, including a second job. Civil Service Regulation 33.022 also prohibits dual employment with other government agencies.

The thirteen employees all worked as permanent, part-time Assistant Recreation Leaders, assisting in the management of different City recreation centers, while holding full-time jobs for other government agencies. Many of the School District employees worked part time for the City during the school year and added extra hours during the summer.

The investigation into dual employment among City employees, which the Office of Inspector General began in March at the request of the Department of Parks and Recreation, is part of a new initiative to step up enforcement of the Charter provision and make sure it is applied fairly across the City.

“Our City’s underfunded municipal pension system is one of the biggest challenges Philadelphia faces,” Inspector General Kurland said. “The dual-employment prohibition is an important tool to prevent people who already have a government job from looking to the City for a second pension.”

Before recommending the terminations, the OIG requested and received, an official Solicitor opinion from the Law Department, which clarified that the dual-employment provision applies to all permanent City employees, including those who work only part time. The Inspector General’s Office also worked with Michael DiBerardinis, Deputy Mayor for Environmental and Community Resources, who issued a notice to Parks and Recreation staff over the summer reminding them of the dual-employment prohibitions.

The Inspector General’s Office is continuing to investigate dual-employment violations and has also asked City Controller Alan Butkovitz to participate in a joint investigation and City-wide audit to improve enforcement.

The relevant City Charter provision and Civil Service Regulation are included below for reference:

Charter Section 8-301 – Other Offices or Positions: Except as otherwise provided in this charter, no person shall hold more than one office or position of profit, whether elective or appointive, under the City and no such person shall hold such office or position while holding any other office or position of profit in or under the government of the United States, of the Commonwealth of Pennsylvania, or of any county, city or other political subdivision thereof, other than the office of notary public, any office in the military or naval service of the United States or of the Commonwealth of Pennsylvania, or any ex officio office held by virtue of another office or position.

Civil Service Regulation 33.022 – Other Governmental Positions:  Except as otherwise provided in the City Charter, no employee shall hold any other office or position of profit in or under the government of the United States, of the Commonwealth of Pennsylvania, or of any county, city or other political subdivision thereof.