PHILADELPHIA, PA — Philadelphia’s Mayor, Cherelle L. Parker, recently presented her first budget address to the City Council, unveiling her proposed Fiscal Year 2025 Budget and Five-Year Plan. The ambitious budget, dubbed the “One Philly Budget”, sets its sights on a sweeping $2 billion investment spread over five years; encompassing areas like public safety, green initiatives, economic opportunity, housing, and education.
Mayor Parker’s address emphasized fiscal stability and a robust financial health for the City of Brotherly Love. With plans to contribute to the Budget Stabilization Reserve fund and report that the pension fund has seen a peak at 62 percent funding level – the highest in decades – it’s clear that financial security is a critical pillar of the proposed budget. By reaching 80 percent funding by FY29 and 100 percent by FY33, the city could be looking at freeing up over half a billion dollars annually for future budgets.
Public safety is a major priority. Visible in the $33 million new investments earmarked to address the city’s gun violence. The budget proposes hiring at least 400 new police officers yearly, increasing the number of recruiting classes, and initiating a cadet program, enhancing the pipeline for budding officers. The budget stands firm on supporting community policing, proposing funds for new patrol cars, equipment, and cutting-edge technology to boost law enforcement capabilities.
Green and clean initiatives are not overlooked in Mayor Parker’s budget proposal. More than $36 million has been allocated to clean and green programs, with the vision to transform Philadelphia into America’s cleanest and greenest big city. Expansion of the PHL Taking Care of Business program, investments in residential cleaning crews for each council district, and an increase in sanitation workers and trash compactors underline this commitment.
Economic opportunities are set to boom in the city, with almost $20 million in new operating funds poised to fortify economic opportunity initiatives. The allocation of over $130 million over the five-year plan aims to boost access to capital for developers from historically disadvantaged groups, nurture workforce development programs, and make doing business in Philadelphia easier with the “PHL Open for Business” initiative.
Housing has been given a significant boost in the budget. Mayor Parker has a goal to create a staggering 30,000 units of housing. The budget includes earmarked funding for home repair programs, a streamlining approach to access housing programs, and transforming vacant parcels through the Land Bank.
Education is another significant focus of the budget. With more than $24 million in new operating investments funneled into education and nearly $140 million slated for the five-year plan. The budget supports full-day and year-round schooling, modernizing existing schools, and building new ones. It also caters to funding workforce development programs and apprenticeships, prepping students for successful careers in thriving industries.
In essence, Mayor Cherelle L. Parker’s proposed budget and five-year plan are geared to tackle key issues in Philadelphia – public safety, cleanliness, economic opportunity, housing, and education. The budget seeks to echo the voices of Philadelphians, aiming to create a safer, cleaner, greener, and economically robust city.
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