civus
BillENACTED

Bill 180106

Authorizing the Commissioner of Public Property, on behalf of the City, to enter into a lease agreement with Spring Del Associates, LP, for use by the City of all or a portion of the premises located at 520 North Delaware Avenue, Philadelphia, Pennsylvania, under certain terms and conditions.

Introduced Feb 15, 2018Committee on Public Property and Public WorksOfficial record: City of Philadelphia via Legistar

Introduced by

Councilmember Squilla

From the floor

Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.

  1. “…hority for Industrial Development, certain parcels of land situate at 3300 North Front Street"; and Bill No. 180106, entitled "An ordinance authorizing the Commissioner of Public Property, on behalf of the City, to enter into a lease agreement with Spring Del Associates for use by the City of all or a portion of the premises located at 520 North Delaware Avenue"; and Bill No. 180177, entitled "An ordinance authorizin…”

    Chief Clerk · Stated Meeting, May 3, 2018 · May 3, 2018 · official transcript, this passage

Status timeline

  1. Feb 15, 2018
    Introduced and Referred · CITY COUNCIL

    Recorded result: Pass

    A motion was made by Councilmember Squilla that this matter be Introduced and Referred to the Committee on Public Property and Public Works. The motion carried unanimously.

  2. Apr 30, 2018
    HEARING NOTICES SENT · Committee on Public Property and Public Works
  3. Apr 30, 2018
    HEARING HELD · Committee on Public Property and Public Works
  4. Apr 30, 2018
    REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Public Property and Public Works
  5. May 3, 2018
    SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL

    Recorded result: Pass

    A motion was made by Councilmember Henon that this matter be SUSPEND THE RULES OF THE COUNCIL. The motion carried unanimously.

  6. May 3, 2018
    ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
  7. May 3, 2018
    READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR · CITY COUNCIL
  8. May 10, 2018
    READ AND PASSED · CITY COUNCIL

    Recorded result: Pass

    A motion was made that this matter be READ AND PASSED. The motion carried by the following vote:

  9. May 22, 2018
    SIGNED · MAYOR

Official documents

Documents open on the City of Philadelphia’s legislative site.

Full text

Read the full text as published

..Title Authorizing the Commissioner of Public Property, on behalf of the City, to enter into a lease agreement with Spring Del Associates, LP, for use by the City of all or a portion of the premises located at 520 North Delaware Avenue, Philadelphia, Pennsylvania, 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, is hereby authorized to enter into a lease agreement with Spring Del Associates, LP, with City as tenant, for use by the City, of all or a portion of the premises located at 520 North Delaware Avenue, Philadelphia, Pennsylvania, 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 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 520 North Delaware Avenue, Philadelphia, PA 1. Landlord: Spring Del Associates, LP 2. Tenant: The City of Philadelphia 3. Premises Address: 520 North Delaware Avenue, Philadelphia, PA 4. Use of the Premises: Approximately 39,116 square feet, to be used for office space. 5. Term of Lease: 5 years; provided, however, the City shall have a right to terminate the Lease at the City's sole option, at any time after expiration of four years without liability to the Landlord for damage or loss of profits which would have been realized had the Lease not been terminated. 6. Renewal Terms: Tenant shall have one (1) five (5) year renewal option. 7. Rent: The annual base rent will be approximately $13.95 per square foot for the first two (2) years with approximately 2% escalations at the commencement of year three (3) and an approximately 2% increase on a biennial basis during the renewal term. The first year's annual base rent will be approximately $545,668.20. 8. Operating Expenses: The City shall be responsible for its pro rata share of common area costs. ..End