Bill 190507
Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into an amendment to a lease agreement with RedGap Limited Partnership, for use by the City of all or a portion of the premises located at 4000 North American Street, under certain terms and conditions.
Introduced by
How members voted
Vote on Sep 19, 2019 · CITY COUNCIL
Aye (16)
Council President ClarkeCouncilmember JohnsonCouncilmember BlackwellCouncilmember JonesCouncilmember HenonCouncilmember Quiñones SánchezCouncilmember BassCouncilmember ParkerCouncilmember O'NeillCouncilmember DombCouncilmember GreenCouncilmember GreenleeCouncilmember GymCouncilmember OhCouncilmember Reynolds BrownCouncilmember Taubenberger
From the floor
Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.
“To the President and members of the Council of the City of Philadelphia, I am pleased to advise you that on October 2, 2019, I signed the following bill which was passed by Council at its session on September 19, 2019: Bill No. 190507; and that on October 2nd, 2019, I signed the following bills which were passed by Council at its session on September 26, 2019: Bill No. 180936-A and Bill No. 190505.”
Chief Clerk · Stated Meeting, October 3, 2019 · Oct 3, 2019 · official transcript, this passage
“The Committee on Public Property and Public Works, to which was referred Bill No. 190507, entitled "An ordinance authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into an amendment to a lease agreement with RedGap Limited Partnership, for use by the City of all or a portion of the premises located at 4000 North American Street"; and Stated Meeting June 20, 2019 190508, e…”
Chief Clerk · Stated Meeting, June 20, 2019 · Jun 20, 2019 · official transcript, this passage
Status timeline
- Jun 6, 2019Introduced and Referred · CITY COUNCIL
- Jun 19, 2019HEARING NOTICES SENT · Committee on Public Property and Public Works
- Jun 19, 2019HEARING HELD · Committee on Public Property and Public Works
- Jun 19, 2019REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Public Property and Public Works
- Jun 20, 2019SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
- Jun 20, 2019READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR · CITY COUNCIL
- Sep 19, 2019READ AND PASSED · CITY COUNCIL
- Oct 2, 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 an amendment to a lease agreement with RedGap Limited Partnership, for use by the City of all or a portion of the premises located at 4000 North American 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, is hereby authorized to enter into an amendment to a lease agreement with RedGap Limited Partnership with City as tenant, for use by the City, of all or a portion of the premises located at 4000 North American 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 lease amendment and other documents necessary to effectuate this Ordinance, which lease amendment 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 Amendment for 4000 North American Street, Philadelphia, PA 1. Landlord: RedGap Limited Partnership 2. Tenant: City of Philadelphia 3. Premises Address: 4000 North American Street, Philadelphia, PA 4. Use of the Premises: Approximately 120,853 square feet to be used for both office and warehouse space. 5. Term of Lease: Ten (10) years; provided, however, the City (in accordance with Section 8-200(3) of the Philadelphia Charter) shall have right to terminate the Lease amendment, at the City's sole option, at any time after the expiration of four years without liability to the Landlord for damages or loss of profits which would have been realized had the Lease amendment not been terminated. 6. Renewal Term: Tenant shall have one (1) five (5) year renewal option. 7. Rent: The annual base rent will be approximately $4.10 per square foot in lease years one and two; $4.35 per square foot in years three through five, $4.74 per square foot in years six through nine, $5.21 per square foot in year ten. Should the City exercise its option to renew, the rent will remain $5.21 per square foot in years eleven and twelve and will increase to $5.68 per square foot for the remainder of the renewal term. The first year's annual base rent will be approximately $495,497.30. 8. Utilities: The City shall pay all utilities associated with the tenancy. 9. Landlord Work: Landlord shall complete improvements to the premises within six (6) months of the execution of a lease extension. 10. Tenant Improvement Allowance: At the start of Lease Year Seven (7), Landlord will provide up to $100,000.00 for tenant improvements, as needed, upon City's written request. ..End