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  05:31am EST, 11/22/09
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Council Approves Mayor's 150M Bond Deal



by KYW's Mike Dunn

Despite opponents calling it a political “slush fund”, City Council has approved the Mayor’s controversial plan to borrow $150 million for, among other things, arts and cultural groups.

The vote was 11-to-3 in favor of plan but those opposed argued passionately that the city simply can’t afford this.

This borrowing earmarks $65 million for the capital needs of cultural groups, including the Art Museum. Most of the remainder goes to commercial corridors in neighborhoods.

Councilman Brian O’Neill was among the no votes. He said the plan’s true goal is to boost the legacy of John Street:

“If we want to create a capital dollar slush fund for this administration, we’re doing it. We’re going to ignore the police stations, fire stations, Fairmount Park, recreation, libraries – we’re ignoring them because we think the commercial corridors are more important.”

Councilwoman Marion Tasco also voted no:

“We mortgage our future so that John Street can have a legacy.”

Supporters of the plan, like Councilman Frank DiCicco, disagreed:

“This is not, to use the words of my colleague, a slush fund. This is another economic tool that the city has at its disposal.”

And Councilwoman Blondell Reynolds Brown argued that that this will pay off years down the road:

“A one dollar investment in arts and culture gives us a domino effect of three dollars spent (in the city).”

 
 
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