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City of Philadelphia

Department of Revenue

SECTION III

Attachments

The following information must be submitted with this application:

(1) Attach a copy of the letter ruling from the Internal Revenue Service which states the

Community Development Corporation is a non-profit organization and is exempt from income

taxation under the provisions of section 501(c) (3) of the Internal Revenue Code.

(2) Attach a copy of the current Articles of Incorporation for the Community Development

Corporation, which have been filed with the Commonwealth of Pennsylvania.

(3) Attach a copy of the by-laws of the Community Development Corporation.

(4) Attach a copy of the most recent listing of all board members of the Community Development Corporation.

(5) Attach a detailed description of the scope of work which the Community Development Corporation (CDC) is either

currently engaged or will be engaged in economic development activities. The economic development activities

must either increase economic opportunity for individuals, or stimulate or retain business and/or permanent jobs in

an economically distressed neighborhood. The distressed neighborhood must be within an identified target area

in the City of Philadelphia. Where appropriate the CDC will include a copy of the plan it has developed and the

key personnel and/or consultants that have either carried out or will carry out the proposed economic development

activities.

For purpose of this application, economic development and economic distressed neighborhoods are as follows:

(a)

Economic development improves the physical or social environment of an economically distressed

area. However, economic development does not include activities for the development of housing,

education, recreation, religious facilities, or related activities.

(b)

Economic distressed neighborhood includes but is not limited to high unemployment, vacant

commercial industrial properties, or blighting effects of deferred public or private maintenance to

commercial areas of a neighborhood.

(6) Attach a narrative description of the various community activities that the Community Development Corporation

has completed in the past five years. The narrative must include those activities, which promote economic

development in an economically distressed neighborhood within an identified target area in the City of

Philadelphia. The Community Development Corporation shall identify cause(s) of economic distress within the

targeted area.

(7) Documentation to support the Community Development Corporation’s prior experience of conducting economic

activities within an identified target area in the City of Philadelphia or that it has acquired sufficient expertise in

order to go forward. The prior experience requirement can be met if the organization has developed a clearly

defined plan for undertaking economic development activities which address the specific issues of economic

distress in its community and has engaged employees or consultants to undertake these activities.

Application For Tax Credit For Contribution To A Community Development Corporation Form - City Of Philadelphia Department Of Revenue Page 2