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Public spaces across the City of Philadelphia will be getting a much-needed infusion of cash, thanks to the William Penn Foundation.
The charitable organization has agreed to donate a $100M grant to the city's $500M Rebuild campaign, aimed at renovating and updating up to 400 parks, libraries and community centers. The gift is the largest in the foundation's history, four times as much as its second-largest donation, according to Curbed.
The remainder of the $500M will come from a $300M bond from the city, as well as proceeds from the new soda tax. The bulk of the foundation's grant will be given when the bond passes, though $5M has already been used in the planning phase. [Curbed]
