PRINTER'S NO. 619
No. 571 Session of 1999
INTRODUCED BY SALVATORE, MARCH 15, 1999
REFERRED TO URBAN AFFAIRS AND HOUSING, MARCH 15, 1999
AN ACT
1 Creating the Stadium and Exposition Facilities Authority and
2 providing for its powers and duties.
3 The General Assembly of the Commonwealth of Pennsylvania
4 hereby enacts as follows:
5 Section 1. Short title.
6 This act shall be known and may be cited as the Stadium and
7 Exposition Facilities Authority Act.
8 Section 2. Definitions.
9 The following words and phrases when used in this act shall
10 have the meanings given to them in this section unless the
11 context clearly indicates otherwise:
12 "Authority." The Stadium and Exposition Facilities Authority
13 created in section 3.
14 "Board." The Board of Directors of the Stadium and
15 Exposition Facilities Authority.
16 "Project." Any of the following where total cost exceeds
17 $15,000,000 and for which Commonwealth funds are sought.
1 (1) Construction or renovation of a sports stadium or
2 arena.
3 (2) Construction, expansion or renovation of a
4 convention or exposition center.
5 (3) Construction, expansion or renovation of a major
6 cultural or public entertainment facility.
7 The term does not include construction, expansion or renovation
8 of a facility owned or operated by an institution of higher
9 learning.
10 Section 3. Stadium and Exposition Facilities Authority created.
11 (a) Establishment.--There is hereby created within counties
12 of the first class a body corporate and politic, with corporate
13 succession, to be known as the Philadelphia Stadium and
14 Exposition Facilities Authority.
15 (b) Membership. --
16 (1) The authority shall consist of a five-member board
17 of directors, one of whom shall be appointed by each of the
18 following:
19 (i) The President pro tempore of the Senate.
20 (ii) The Minority Leader of the Senate.
21 (iii) The Speaker of the House of Representatives.
22 (iv) The Minority Leader of the House of
23 Representatives.
24 (v) President of the Greater Philadelphia Chamber of
25 Commerce or his designee.
26 (2) All members must be residents of a county of the
27 first class.
28 The members initially appointed shall serve for terms of four
29 years. Every member's term shall extend until a successor is
30 appointed and qualified. An appointed member of the authority
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1 shall be eligible for reappointment.
2 (c) Vesting of powers.--The powers of the authority shall be
3 vested in the board in office from time to time, and three
4 members of the board shall constitute a quorum at any meeting.
5 Action may be taken and motions and resolutions adopted by the
6 authority by the affirmative vote of at least four members of
7 the board. A vacancy on the board shall not impair the right of
8 a quorum of the members of the board to exercise the powers and
9 perform the duties of the authority.
10 (d) Compensation and expenses.--A member shall not receive
11 compensation for services performed on behalf of the authority.
12 Members shall be entitled to reimbursement for travel and other
13 necessary expenses incurred by them while carrying out the
14 business of the authority.
15 Section 4. Purposes and powers.
16 (a) Purposes.--The authority is created for the purposes of
17 promoting urban redevelopment and general economic development
18 throughout counties of the first class by providing a financing
19 program, technical assistance, administrative support and
20 project review to regional and local groups in the development
21 of professional sports facilities, convention and exposition
22 centers and major cultural and entertainment facilities.
23 (b) Powers specific to projects.--The authority shall have
24 the power and its duty shall be to analyze applications for
25 financial assistance to determine whether the Commonwealth
26 should participate in funding a project. The authority shall
27 develop and employ general criteria in evaluating all
28 applications and in addition shall develop and apply criteria
29 that relate to the several categories of projects. The criteria
30 for all projects shall, in addition to such other criteria as
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1 may be established by the authority, include the following:
2 (1) Evidence of significant financial commitments from
3 local government, the community and those most directly
4 benefiting from the project.
5 (2) Compatibility of the proposed location of the
6 project with the priorities and the long-range planning
7 principles of the host municipality and surrounding region.
8 (3) The proposed project's predicted effect on the
9 eradication of blight or the development of a difficult or
10 underutilized parcel.
11 (4) The process of development, including public review
12 and comment through public hearings, meetings, media coverage
13 or other means.
14 (5) Concerns raised regarding the project and how
15 proponents have addressed them.
16 (6) Support by the local community, including elected
17 officials and other community leaders.
18 (7) Assumptions used to estimate the economic benefits
19 from the facility.
20 (8) The proponents of the project and their experience
21 with developing similar projects.
22 (9) The experience of the staff for the project.
23 (10) The realistic direct job creation or retention
24 effects of the proposed facility, including anticipated full-
25 time, part-time, seasonal, blue-collar, white-collar and
26 construction jobs.
27 (11) The proposed project's competition with and impact
28 on enterprises within the relevant market, particularly those
29 enterprises developed and operated without Commonwealth
30 financial assistance.
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1 (12) Resource allocation to post-construction operating
2 expenses, including long-term maintenance and future capital
3 expenses.
4 (13) Proximity of the project to other existing or
5 proposed facilities.
6 (14) Innovative features in the proposed project or the
7 financial package for the project.
8 (c) General powers.--The authority shall have and may
9 exercise other powers necessary or appropriate to carry out and
10 effectuate the purposes of this act, including, but not limited
11 to, the following:
12 (1) Conduct examinations and investigations and take
13 testimony, under oath or affirmation, on any matter necessary
14 to the determination and approval of project applications.
15 (2) Sue and be sued, implead and be impleaded, complain
16 and defend in all courts.
17 (3) Adopt, use and alter at will a corporate seal.
18 (4) Make bylaws for the management and regulation of its
19 affairs, and make and, from time to time, adopt, amend and
20 repeal rules and regulations governing the administrative
21 procedures and business of the authority.
22 (5) Make contracts of every name and nature and execute
23 all instruments necessary or convenient for the carrying on
24 of its business.
25 (6) Accept grants from and enter into contracts or other
26 transactions with any Federal, State or local agency.
27 (7) (i) Take title by foreclosure or otherwise to any
28 project or other property pledged, mortgaged, encumbered
29 or otherwise available as security for a project financed
30 by the board, whether by loan, loan guarantee or
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1 otherwise, where acquisition is necessary to protect the
2 interests of the authority with respect to a project.
3 (ii) Pay all costs arising out of an acquisition
4 under subparagraph (i).
5 (iii) Sell, transfer and convey all or any portion
6 of a project acquired by the authority to any responsible
7 buyer.
8 (iv) The authority may require a dedicated source of
9 revenue to be available for repayment of any loan.
10 (8) Provide financial assistance, including, but not
11 limited to, loans, loan guarantees, bond guarantees and
12 grants for projects fulfilling the purposes of this act.
13 (9) Collect fees and charges relating to projects funded
14 under this act, as the board determines to be reasonable,
15 relating to activities undertaken in furtherance of the
16 purposes of this act.
17 (10) Receive appropriations and apply for and accept
18 grants, gifts, donations, bequests and settlements from any
19 public or private source.
20 (11) Acquire, own, hold, construct, improve,
21 rehabilitate, renovate, operate, maintain, sell, assign,
22 exchange, lease, mortgage or otherwise dispose of real and
23 personal property or any interest therein in the exercise of
24 its powers and the performance of its duties under this act.
25 (12) Procure insurance against any loss in connection
26 with its property and other assets and operations in any
27 amounts and from any insurers as it deems desirable.
28 (13) Contract for the services of attorneys, accountants
29 and financial experts and any other advisors, consultants and
30 agents as may be necessary in its judgment.
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1 (14) Prepare plans and reports and provide for public
2 participation as deemed appropriate.
3 (15) Do any other act necessary or convenient to the
4 exercise of the powers enumerated in this section or
5 reasonably implied therefrom.
6 Section 5. Revenues of authority.
7 (a) Sources.--The authority may receive money from sources
8 of revenue, including, but not limited to, the following:
9 (1) Federal funds appropriated to or granted to the
10 authority.
11 (2) Proceeds from the sale of authority assets.
12 (3) Repayment of loan principal.
13 (4) Payment of interest on loans made by the authority.
14 (5) Interest earned on investments made by the
15 authority.
16 (6) State funds.
17 (b) Control and investment of funds.--The board shall have
18 exclusive control and management of all moneys of the authority
19 and full power to invest moneys not required for immediate use
20 in any securities or other investments in which funds of the
21 Commonwealth are authorized to be invested and in any other type
22 of security or investment if, prior to the acquisition of the
23 securities or investments, the board determines by resolution
24 that the type of security or investment is in the best interests
25 of the authority and the State Treasurer approves of such type
26 of security or other investment.
27 Section 6. Funding for approved projects.
28 (a) Participant in negotiations.--The authority shall
29 actively participate with all interested parties in negotiations
30 involving financing of a project. Where appropriate, the
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1 authority shall advocate adoption of innovative mechanisms in
2 project operating agreements to preserve the viability of the
3 project during the repayment period of any long-term debt
4 undertaken to create a project.
5 (b) Amount of funding.--
6 (1) If the authority approves a project, it may provide
7 funds constituting between 15% and 35% of the total cost of
8 the project.
9 (2) Notwithstanding paragraph (1), if the authority, in
10 its discretion, finds compelling circumstances exist, it may
11 provide funding in excess of 35% of the total cost of a
12 project.
13 Section 7. Effective date.
14 This act shall take effect in 60 days.
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