Bill 180602
Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into a sublease agreement with The Philadelphia Municipal Authority, for use by the City, of a portion of the premises located at 100 South Broad Street, Philadelphia, Pennsylvania by the City, all 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.
“Bill No. 180602 -(Applause.)”
Chief Clerk · Stated Meeting, December 6, 2018 · Dec 6, 2018 · official transcript, this passage
“This bill having been read on two different days, the question now is shall the bill pass finally. Stated Meeting December 6, 2018 12/6/18 - STATED - 2ND READING Clerk, we're going to start this over. Mr. Decker, would you please read the title of Bill No. 180602.”
Councilman Henon · Stated Meeting, December 6, 2018 · Dec 6, 2018 · official transcript, this passage
“The Committee on Public Property and Public Works, to which is referred Bill No. 180602, entitled "An ordinance authorizing the Commissioner of Public Property to enter into a sublease agreement with the Philadelphia Municipal Authority for use by the City of a portion of the premises located at 100 South Broad Street"; and Bill No. 180906, entitled "An ordinance authorizing the Commissioner of Public Property to ent…”
Chief Clerk · Stated Meeting, November 29, 2018 · Nov 29, 2018 · official transcript, this passage
Status timeline
- Jun 7, 2018Introduced and Referred · CITY COUNCIL
- Nov 13, 2018HEARING NOTICES SENT · Committee on Public Property and Public Works
- Nov 13, 2018RECESSED · Committee on Public Property and Public Works
- Nov 28, 2018HEARING NOTICES SENT · Committee on Public Property and Public Works
- Nov 28, 2018HEARING HELD · Committee on Public Property and Public Works
- Nov 28, 2018REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Public Property and Public Works
- Nov 29, 2018ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
- Nov 29, 2018SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
- Nov 29, 2018READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR · CITY COUNCIL
- Dec 6, 2018READ AND PASSED · CITY COUNCIL
- Jan 22, 2019SIGNED · 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 of Philadelphia, to enter into a sublease agreement with The Philadelphia Municipal Authority, for use by the City, of a portion of the premises located at 100 South Broad Street, Philadelphia, Pennsylvania by the City, all 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 sublease agreement with The Philadelphia Municipal Authority, with City as subtenant, for use by the City of a portion of the premises located at 100 South Broad Street, 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 sublease and other documents necessary to effectuate this Ordinance, which sublease 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 Sublease For 100 South Broad, Philadelphia, PA 1. Sublandord: The Philadelphia Municipal Authority (The Philadelphia Municipal Authority will to enter into a prime lease for the premises with LTB Limited Partnership.) 2. Subtenant: The City of Philadelphia 3. Premises Address: 100 South Broad Street, Philadelphia, PA 4. Use of the Premises: Approximately 66,631 rentable square feet, to be used for office space. 5. Term of Sublease: 10 years, with the exception of 18,124 square feet on floor 3, which the City has the option of returning to Landlord/Sublandlord after 5 years. 7. Rent: The annual base rent will be approximately $22.50 per rentable square foot and will escalate at a rate of approximately 9% per rentable square foot per three years. At approximately 66,631 rentable square feet, the first year's annual base rent will be approximately $1,499,197.50. 8. Utilities: Tenant shall pay monthly for electric usage to the Premises in the sum of $1.50 per rsf per year 8. Operating Expenses: The City shall be responsible for its proportionate share of operating expenses. 9. Tenant Improvements: Landlord under the prime lease shall turn-key the premises based on a mutually accepted space plan. ..End