Philadelphia Mayor John Street announced major investments in Philadelphia artistic and cultural institutions in his budget address last week, a move which some say could benefit the city as a whole.
In the annual speech, traditionally regarded as Philadelphia's equivalent of a State of the Union address, the mayor outlined his proposal for the city's fiscal year 2007 budget and Five Year Financial Plan.
Despite making reference to University City's Rotunda and World Cafe Live as Philadelphia landmarks in his opening remarks, Street did not include any special perks for Penn or University City in his proposed budget.
However, some local officials say Street's promises to issue a $150 million bond to support Philadelphia's cultural institutions and commercial corridors and $125 million to create a New River City Economic Fund for development along the Schuylkill and Delaware rivers will likely be well-received by the local community.
"Any additional funding that is designated for arts and culture is a great thing for the city," said Lori Brennan, the senior marketing director for University City District, an organization that seeks to keep the area clean and safe.
In his last budget, Street cut funding for many museums, causing them to rely heavily on private donors.
Penn Political Science professor Henry Teune worried that the $150 million may not be enough.
"That's peanuts for a five-year plan," Teune said.
On the subject of crime, the mayor said the city needs more measures aimed at preventing crime as well as resources dedicating to policing. He delegated $14.6 million toward youth violence prevention programs and $1 million to a new Office of Re-entry, which would help ex-convicts return to public life.
Street also announced an extra $10 million for police overtime pay in order to increase patrols in the city.
He said that using police overtime is more cost-effective and efficient than hiring new officers.
Street also stood by the city's controversial business privilege tax -- which taxes businesses based on the revenue they bring in. Street offered only a $5 million reduction for the 2007 fiscal year, as opposed to a multi-year program of mandatory cuts that many councilmembers have been pushing for.
Councilman Frank Rizzo said that, while he was pleased with Street's $5 million cut to the tax, he would have preferred a "more aggressive reduction."
Penn Political Science professor Ted Hershberg declared the $5 million reduction a "squandered opportunity."
"When you have the resources, that is the time to make the city more attractive to businesses," Hershberg said.
