Bill 230859
Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into an amendment to a sublease with the Philadelphia Authority for Industrial Development, for use by the City, of all or a portion of the premises located at 1101 Market Street, Philadelphia, Pennsylvania, under certain terms and conditions.
Introduced by
How members voted
Vote on Dec 14, 2023 · CITY COUNCIL
Aye (15)
Councilmember SquillaCouncilmember JohnsonCouncilmember JonesCouncil President ClarkeCouncilmember BassCouncilmember O'NeillCouncilmember BrooksCouncilmember GauthierCouncilmember Gilmore RichardsonCouncilmember ThomasCouncilmember DriscollCouncilmember LozadaCouncilmember HarrityCouncilmember VaughnCouncilmember Phillips
From the floor
Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.
“230858, entitled "An ordinance authorizing the Commissioner of Public Property to enter into an amendment to a sublease with the Philadelphia Municipal Authority, for use by the City, of an additional portion of the premises located at 1327 through 29 Chestnut Street"; and Bill No. 230859, entitled "An ordinance authorizing the Commissioner of Public Property to enter into an amendment to a sublease with the Philadel…”
Chief Clerk · Stated Meeting, December 14, 2023 · Dec 14, 2023 · official transcript, this passage
“230835, entitled "An ordinance authorizing the Commissioner of Public Property to acquire fee simple title or a lesser real estate interest to all or a portion of certain parcel or parcels of land from the Philadelphia Redevelopment Authority"; and Bill No. 230839, entitled "An ordinance authorizing the Commissioner of Public Property to enter into an amendment to a lease agreement with AC HSS Office Ventures II, for…”
Chief Clerk · Stated Meeting, December 7, 2023 · Dec 7, 2023 · official transcript, this passage
Status timeline
- Nov 16, 2023Introduced and Referred · CITY COUNCIL
- Dec 5, 2023HEARING NOTICES SENT · Committee on Public Property and Public Works
- Dec 5, 2023HEARING HELD · Committee on Public Property and Public Works
- Dec 5, 2023REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Public Property and Public Works
- Dec 7, 2023SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
- Dec 7, 2023ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
- Dec 14, 2023READ AND PASSED · CITY COUNCIL
- Dec 20, 2023SIGNED · 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, on behalf of the City of Philadelphia, to enter into an amendment to a sublease with the Philadelphia Authority for Industrial Development, for use by the City, of all or a portion of the premises located at 1101 Market Street, 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 an amendment to a sublease agreement with the Philadelphia Authority for Industrial Development, for use by the City, of all or a portion of the premises located at 1101 Market 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 amendment and other documents necessary to effectuate this Ordinance, which sublease 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 and to carry out the purpose of this Ordinance. EXHIBIT "A" Terms of Proposed Sublease Amendment For 1101 Market Street, Philadelphia, PA 1. Landlord: Girard Estate Leasehold 2. Sublandord: The Philadelphia Authority for Industrial Development 3. Subtenant: The City of Philadelphia 4. Premises Address: 1101 Market Street, Philadelphia, PA 5. Use of the Premises: Adding approximately 20,642 rentable square feet, to the existing space subleased under the current agreement, to be used for office space. 6. Term of Sublease: Two (2) additional years ("Extension Term") beyond the existing sublease term, extending the expiration date from August 31, 2032 to August 31, 2034. 7. Rent: The annual base rent will escalate by approximately forty-five cents ($.45) per rentable square foot each year of the Extension Term to $19.70 in Year 1 and $20.15 in Year 2 of the Extension Term. At approximately 274,798 rentable square feet, the additional two year's annual base rent will be approximately $5,413,520.60 and $5,537,179.70, respectively. 8. Operating Expenses: The City shall be responsible for its proportionate share of operating expenses. ..End