The City Council finds that:
(1) The City of Philadelphia, through the Office of Housing and Community Development ("OHCD") and the Department of Commerce ("DOC") and their agents or designees, annually expends millions of dollars on housing and community development projects that include construction and construction-related activities, and which leverage additional public and private sector funds.
(2) These housing and community development projects can provide additional benefits to the neighborhoods in which the projects are located if low-income area businesses are used to help carry out the projects and if low- income area residents are employed in the construction and other activities related to the projects.
(3) Section 3 of the Housing and Urban Development Act of 1968, 12 U.S.C. § 1701u, as amended by Section 915 of the Housing and Community Development Act of 1992, P.L. 102-550, or any successor statute ("Section 3 of the HUD Act"), requires that economic opportunities generated by U.S. Department of Housing and Urban Development ("HUD") financial assistance in housing and community development projects will, to the greatest extent feasible, be given to low- and very-low income persons residing in the area in which the project is located, and to area businesses that provide economic opportunities to low- and very-low income persons.
(4) Specific housing and community development activities covered by Section 3 include construction, re- construction, conversion or rehabilitation of housing and other buildings or improvements, as well as related activities such as planning, architectural services, consultation, maintenance, repair and accounting.
(5) Compliance with the goals and spirit of Section 3 is necessary to help relieve unemployment and economic disinvestment in OHCD and DOC project areas.
(6) A Neighborhood Benefit Strategy will provide for effective implementation of and compliance with Section 3 regulations to the greatest extent feasible in its housing and community development activities carried out by OHCD and DOC and financed in any part by HUD funds.