Background:
PAID is a public authority incorporated by the City of Philadelphia pursuant to the Economic Development Financing Law (the “EDF Law”) in December 1967.  PAID was organized for the purpose of acquiring, holding, constructing, improving, maintaining, operating, owning, financing, and leasing industrial, commercial or specialized development projects all as permitted under the EDF Law.  PAID has the power to issue tax-exempt bonds to finance the capital needs of non-profit organizations and eligible commercial and industrial businesses and, in addition, to finance certain other economic development projects permitted by the Internal Revenue Code and EDF Law.  PAID is also responsible for the economic redevelopment of the former Philadelphia Naval Shipyard and Naval Station, now collectively known as the Navy Yard.

Management:
The affairs of PAID are managed by the Philadelphia Industrial Development Corporation (“PIDC”).

Governance:
PAID’s five (5) member Board is appointed by the Mayor of Philadelphia.  The current Board Members and Non-member officers of PAID are:

BOARD MEMBERS

Chairman
James F. McManus
Regional Vice President
Caron Treatment Centers

Vice Chairman
Ms. Cheryl McKissack Felder
McKissack & McKissack

Member
William Harvey, Esquire
Klehr, Harrison, Harvey, Branzburg & Ellers

Member
Vacancy

NON-MEMBER OFFICERS

Secretary
Paul J. Deegan
Senior Vice President
PIDC

Assistant Secretary
Terry DeMusis
Senior Vice President – Human Resources
PIDC

2010 PAID Meeting Schedule:

PAID Board meetings for 2010 will be held in the PIDC Board Room
2600 Centre Square West
1500 Market Street
Philadelphia, PA 19102

MEETINGS WILL BE HELD AT 4:30 P.M. ON THE FOLLOWING DATES:

January 12 & 26
February 9 & 23
March 9 & 23
April 6 & 20
May 4 & 18
June 1 & 15 & 29
July 13
August 17
September 14 & 28
October 12 & 26
November 9 & 23
December 7 & 21

The Pennsylvania Right-To-Know Law (“Act No. 3 of 2008” or the “Act”):

Requests for information pursuant to the Act can be made verbally or in writing to the Open-Records Officer, Paul J. Deegan.  Verbal requests can be made by calling 215-496-8170.  Written requests should be addressed to the Open-Records Officer and faxed to 215-977-9618 or 9619, emailed to Pauld@pidc-pa.org or mailed to the above address. 
If the requester wishes to pursue the relief and remedies provided for in the Act, the request must be in writing.

For more information about tax-exempt bond financing click here.
For more information about the Navy Yard click here.