TMNT and Other Strangeness
That is an interesting idea.
Maybe not specifically "the hood." That implies some real-world political realities I would be uncomfortable including in a light-hearted game about mutant animals.
But "Mutants in the Inner City" does sound fun. And a really good match for either the modern day or the 80's.
We could either do mutant crime-fighters, trying to clean up the streets. Or mutant gangsters, trying to take them over.
How closely do you prefer to stick to the actual rules in the actual book? I've found that some people who love Palladium really want to play it as it lays. Which is fine, obviously, everyone should do what they love. But left to my own devices I tend to drift toward "loosely based on Palladium." Mostly in terms of trying to keep the free-wheeling creative insanity that makes the games so intriguing, while discarding as much of the overly restrictive player-agency suppression as I can.