This bill amends the Philadelphia Code by establishing a Tax Increment Financing (TIF) district for the development of the 'Riverfront Lofts', a mixed-use project including residential units and commercial space. The TIF will support public infrastructure improvements, such as road upgrades and utility extensions, necessary for the project. The project is anticipated to bring 200 new housing units and create numerous jobs. City Council approved the bill with conditions related to affordable housing set-asides and environmental sustainability.