Philly City Council advances $35M line of credit as the city tries to the lure the DNC back

Philadelphia City Council members on Wednesday advanced legislation authorizing the city to back a $35 million line of credit that guarantees the Democratic National Committee would not be on the hook for excess costs if it brings its convention to the city in 2028.

Mayor Cherelle L. Parker’s administration, which is leading the push to bring the presidential nominating convention back to Philadelphia, requested that Council approve the measure. Officials testified Wednesday before a meeting of the Committee of the Whole, which is made up of all 17 Council members, that the idea is not for the city to finance the convention.

Rather, Chief Deputy Mayor Vanessa Garrett Harley said it is standard for convention host committees to take out a line of credit in the event that the committee, called Pick Pennsylvania, can’t meet its debt obligations through fundraising. The credit is issued by a bank and is effectively underwritten by the city through the Philadelphia Industrial Development Corporation.

» READ MORE: Inside Philly’s high-stakes charm campaign to lure the 2028 Democratic National Convention

In 2015, Council passed legislation approving a similar $15 million guarantee ahead of the 2016 Democratic National Convention that was held in the city. That host committee raised $85 million to cover costs associated with the event, and the credit line was never tapped.

Garrett Harley, flanked by city Finance Director Rob Dubow and Treasurer Jackie Dunn, said the 2016 convention generated $230 million in economic benefit for the city.

“The city has full confidence in Pick Pennsylvania and its fundraising capabilities,” Garrett Harley said, noting that the effort is led by longtime Democratic fundraiser David L. Cohen and Comcast Spectacor CEO Dan Hilferty.

Council will have to vote once more on the legislation to send it to the mayor’s desk for her signature.

The insurance from lawmakers comes as the city is attempting to lure the convention back to Philadelphia for the second time in 12 years. A contingent of representatives from the host committee traveled to New Orleans last week to pitch the Democratic National Committee’s leadership.

The party is also considering Atlanta, Denver, Chicago, and Boston to hold the early August 2028 event. When Chicago hosted the convention in 2024, the city established a similar $30 million line of credit.

» READ MORE: Philly wants to host the DNC in 2028. Eighty years earlier, it hosted 3 conventions.

DNC members will travel to Philadelphia for a site visit from April 29 to May 1. Officials will tour city hot spots and the Xfinity Mobile Arena, where the convention would be held.

Wednesday marks the first time lawmakers publicly questioned the Parker administration on the prospect of hosting the convention since it was announced early last month that the city is a finalist.

“How are we preparing our mass transit system to be able to respond appropriately to these groups so that... when they leave after the convention, they choose to bring their personal families back to visit our city?” Councilmember Quetcy Lozada, a Democrat, asked.

Garrett Harley highlighted that that Democratic National Committee and city officials will “be definitely drilling down” on the transit issue during the site visit later this month and added that SEPTA and city public safety entities will collaborate throughout the convention.

“What we are trying to explain to [the DNC] is just how wonderful and great our city is,” she said, “and all the amenities that the city has to offer and what we have that makes us such an attractive destination for conventions and things of the like.”