Bill 140384
Authorizing the Commissioner of Public Property to enter into a lease agreement with the Southeastern Pennsylvania Transportation Authority as landlord and the City of Philadelphia as tenant for office space at 1234 Market Street, under certain terms and conditions.
Introduced by
From the floor
Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.
“140447, entitled "An ordinance to amend the Philadelphia Zoning Maps by changing the zoning designations of certain areas of land located within an area bounded by the Frankford Creek, Kensington Avenue, Adams Avenue, Griscom Street, Wakeling Street, and the Northeast Corridor Railroad Right-of-Way"; and Bill No. 130486, entitled "An ordinance amending the Ordinance approved July 12, 1968, as last amended December 21…”
Chief Clerk · Stated Meeting, June 12, 2014 · Jun 12, 2014 · official transcript, this passage
“The Committee on Public Property and Public Works, to which is referred Bill No. 140222, entitled, "An ordinance amending Chapter 16-800 of The Philadelphia Code entitled, 'Philadelphia Affordable Housing Opportunity Zones,' by designating the Mantua Housing Opportunity Zones pursuant to the 1500 New Affordable Housing Units Initiative"; and Bill No. 140226, entitled "An ordinance amending Chapter 16-800 of The Phila…”
Chief Clerk · Stated Meeting, June 5, 2014 · Jun 5, 2014 · official transcript, this passage
Status timeline
- May 1, 2014Introduced and Referred · CITY COUNCIL
- Jun 4, 2014HEARING NOTICES SENT · Committee on Public Property and Public Works
- Jun 4, 2014HEARING HELD · Committee on Public Property and Public Works
- Jun 4, 2014REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Public Property and Public Works
- Jun 5, 2014ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
- Jun 5, 2014SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
- Jun 5, 2014ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR · CITY COUNCIL
- Jun 12, 2014READ AND PASSED · CITY COUNCIL
- Jun 19, 2014SIGNED · MAYOR
Official documents
Documents open on the City of Philadelphia’s legislative site.
Full text
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..Title Authorizing the Commissioner of Public Property to enter into a lease agreement with the Southeastern Pennsylvania Transportation Authority as landlord and the City of Philadelphia as tenant for office space at 1234 Market Street, under certain terms and conditions. ..Body THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. The Commissioner of Public Property, on behalf of the City of Philadelphia, as tenant, is hereby authorized to enter into a lease agreement with the Southeastern Pennsylvania Transportation Authority ("SEPTA"), as landlord, for use as office space by the City of a portion of the premises located at 1234 Market Street, pursuant to terms substantially set forth in the document attached hereto as Exhibit "A." SECTION 2. The City Solicitor is hereby authorized to review and to approve the lease and other documents necessary to effectuate this Ordinance, which lease and other documents shall contain such terms and conditions as the City Solicitor shall deem necessary and proper to protect the interests of the City of Philadelphia and to carry out the purpose of this Ordinance. EXHIBIT "A" Terms of Proposed Lease for 1234 Market Street, Philadelphia, PA 1. Landlord: Southeastern Pennsylvania Transportation Authority ("SEPTA"). 2. Tenant: City of Philadelphia ("City"). 3. Premises Address: 1234 Market Street, Philadelphia, PA. 4. Use of the Premises: Approximately 42,532 rentable square feet, to be used for office space. 5. Term: 10 years. 6. Base Rent Payable by City to SEPTA: The annual base rent will be $19.50 per rentable square foot and will escalate at a rate of $.50 per rentable square foot per year. At 42,532 rentable square feet, the first year's annual base rent will be $829,374. 7. Operating Expenses: Beginning in 2015, the Tenant shall be responsible for its proportionate share of operating expenses in excess of the 2014 base year operating expenses. 8. Tenant improvement allowance: Landlord shall provide a tenant improvement allowance of $10.00 per rentable square foot. Any unused portion of the Tenant improvement allowance shall be allocated as a rent credit. Landlord shall also provide an allowance of $10.00 per rentable square foot to upgrade the HVAC system serving Premises. ..End