In 1992, Philadelphia had accrued a plethora of unpaid bills, maintained the lowest bond rating of the top fifty largest U.S. cities, and operated in a budget deficit of approximately US$250 million dollars. Stepping into the spotlight, Ed Rendell was elected as the city’s first Jewish mayor. Rendell was successful in attracting new investment to Philadelphia, stabilized the city’s finances and even boasted small budget surpluses . Rendell understood the importance in the continuation of the revitalization of parts of Philadelphia and he continued to make great strides in doing so. He oversaw the completion of a new convention center in 1993. This would ultimately lead the city to experience a hotel boom, where seventeen hotels would open their doors between 1998 and 2000 as the Republican National Convention was hosted in the city . City revitalization continued in the 21st century as former city council president John F. Street was elected mayor in …show more content…
A series of scandals plagued the police department in the 1990’s, the mayoral Street administration experienced a litany of corruption accusation stemming from awarding contracts based on campaign donations for the 2003 reelection campaign . The 2000’s experienced an increase in violent crime after championing a decline in the 1990’s. A key factor in the city was the level of danger associated with it as the city witnessed an increase in the murder rate from a still elevated 18.9 murders per 100,000 inhabitants to a staggering 27.8 per 100,000 inhabitants in 2006 . Ironically, in 2005, National Geographic Traveler, named Philadelphia America 's Next Great City, citing its recent revitalization and general compact cityscape . Overall, the early 2000’s were considered a setback for the city of Philadelphia, but for one man this time period offered bold