Darrell Clarke: Land use policy at heart of Bullard sale | Opinion
The City of Philadelphia is not, nor should it be, in the business of flipping properties to extract maximum profit.
A recent report regarding a Philadelphia Redevelopment Authority (PRA) public property sale in the 5th Council District makes misleading assertions and omits relevant facts.
With regard to the PRA sale of four vacant lots, 1620-1626 Cecil B. Moore Avenue, to developer Shawn Bullard, the author alleges that the sale price — $92,500 each – was significantly lower than market value. The original report, which has since been updated, compares this disposition to the sale of another adjacent lot that sold for more – without mentioning the fact that the property included a three-story building zoned for first-floor commercial use, and that this particular sale was a private market transaction.
A fairer comparison to nearby PRA sales, which were provided to the Inquirer but not published, shows even lower sales prices – contradicting the premise on which this article is built. In conversations, the Inquirer claimed that public and private land transactions should be conducted identically. But that is simply false.
The City of Philadelphia is not, nor should it be, in the business of flipping properties to extract maximum profit.
As a nonprofit government entity, the City is motivated by a desire for outcomes that benefit the residents we serve. And in the case of PRA sales, the City exercises discretion in order to achieve outcomes that include:
Expanding economic opportunity to persons from groups that face discrimination
Incentivizing economic activity in underserved communities
Promoting equity in economic development, including by supporting the creation of affordable housing
Under the policies at the time of sale, the PRA Board of Directors – comprising Administration officials and appointees, and no representatives of City Council – had the authority to make direct sales for less than assessed value, for reasons including those stated above, with approval from the Real Estate Review Committee, composed of Administration officials and the Mayor’s Chief Integrity Officer.
Council’s only role in this sale was to express support for Mr. Bullard, because the City should expand economic opportunities to up-and-coming developers of color.
For the purposes of an article about City land use policies, what does it matter that Mr. Bullard is “an aspiring rapper” who “drives an Aston Martin luxury sports car and plans to launch a ‘Zaddy’ line of men’s skin-care products” – all included in this article? What is the relevance of a rap video featuring Mr. Bullard that was tweeted out by the reporter in a thread promoting his reporting?
Darrell L. Clarke is president of Philadelphia’s City Council.