(1) City. Includes the City and its departments, boards, commissions or agencies.

(2) City-related Agency. All authorities, government agencies and quasi-public corporations which:

(a) receive appropriations from the City;

(b) have entered into continuing contractual or cooperative relationships with the City, including any agreement whereby the City funds an agency's debt service; or

(c) operate under legal authority granted to them by City ordinance.

(3) Construction Contract. Any agreement for the erection, repair, demolition or alteration of any building, structure, bridge, roadway or other improvement to real property.

(4) Covered Construction Contract. Any construction contract with a total value in excess of $150,000 which:

(a) is paid for in whole or in part with City funds;

(b) is financed either wholly or partially by state or federal funds which are administered by the City;

(c) is funded in whole or in part by Financial Assistance; or

(d) is located on property for which the current owner or owners have received Financial Assistance from the City with respect to its purchase.

(5) Financial Assistance. Any grant, loan, incentive or abatement provided by, or with the authority or approval of, the City or a City-related agency, including but not limited to bond financing subsidies; Tax Increment Financing aid; industrial development bonds; use of the power of eminent domain; Community Development Block Grant loans or grants; airport revenue bonds; Enterprise Zone designations; and aid from the Philadelphia Workforce Development Corporation or other similar agencies.

(6) Low- or Moderate-Income Person. A person whose income does not exceed more than eighty percent (80%) of the median income for the Philadelphia metropolitan area, as determined or adjusted by the Secretary of Housing and Urban Development pursuant to 42 U.S.C. § 5302(a)(20). A person who no longer meets the income eligibility criteria set forth above because of employment by a party to a covered construction contract, but who met the criteria on his or her date of hire, shall be deemed a low- or moderate-income person for three years from the date of his or her hire.