iradiophilly | News - Kenney on Small Business, Tax Abatements Expire, Indego Bike Share Valet Program

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Kenney on Small Business, Tax Abatements Expire, Indego Bike Share Valet Program

by: Rebel - Havertown, PA
started: 09/02/16 1:21 am | updated: 09/02/16 1:21 am

Philadelphia mayor Jim Kenney held an event on Thursday where he announced a major investment in programs to help the city's small business landscape. With the new investment, Kenney says the programs will now be able to provide key financing to under-served businesses across Philadelphia. Kenney expressed that he is optimistic that more business could mean less crime. The new investments are expected to create new jobs and revitalize city neighborhoods.

A report from the city controller says Philadelphia is about to reap a windfall as ten-year property tax abatements expire. City controller Alan Butkovitz says 10,000 properties will be returning to the tax rolls in the next five years, adding $4-billion to the total value of taxable property. That would generate $55-million in taxes - $30-million of which would go to the school district and $25-million to the general fund. He says most of the properties return to the tax rolls in 2018 and 2019.

Philadelphiaâ€™s Indego Bike Share program is offering a solution to those who have a difficult time finding a Center City bike dock during rush hour. The cityâ€™s bike share program has launched a new pilot initative called â€œValet Bike Parking:â€ A bike station near the Comcast Center is accepting bikes during rush hour, even when all docks are full with two street team members working the station. The program will run through September.

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