PHILADELPHIA (KYW Newsradio) — In a three-hour presentation Wednesday night, Mayor Cherelle Parker laid out in painstaking detail what the 76ers agreed to in order to get her approval for a Center City arena.
“It is a historic agreement,” Parker said. “It’s the best sports facility agreement in the history of Philadelphia.”
The $50 million Community Benefits Agreement will be split between projects specifically to preserve Chinatown, such as a small business fund, public safety enhancements, and affordable housing, and for citywide projects, including a youth basketball league and training for jobs in arena operations.
City Solicitor Renee Garcia says most of the money will be spent in the first 10 years of the 30-year agreement.
“We have negotiated the CBA as a contract between the CBA and the Sixers with the city having full enforcement rights,” Garcia said. “Those rights roll over to each owner of the team should a sale occur.”
The administration also touted the Economic Opportunity Planas …