Bill 250149

..Title Authorizing the Commissioner of Public Property, on behalf of the City, to acquire fee title or lesser real estate interest, including a leasehold estate, for all or a portion of the premises bounded by State Road, the Pennypack Creek, the Delaware River, and former Hartel Avenue, to enter into a lease or sublease agreement with the Philadelphia Authority for Industrial Development at said premises for the development of a facility, to enter into an intergovernmental agreement with PAID for the development of the facility, and to take title to the completed facility from PAID, 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 acquire fee title or other such lesser real estate interest, including a multi-year lease, in the premises bounded by State Road, the Pennypack Creek, the Delaware River, and former Hartel Avenue in Philadelphia, Pennsylvania, as described in Exhibit A (the "Premises"). SECTION 2. The Commissioner of Public Property, on behalf of the City of Philadelphia, is hereby authorized to enter into a lease or sublease agreement with the Philadelphia Authority for Industrial Development ("PAID"), with City as landlord or sublandlord, for use of all or a portion of the Premises for the development of a facility at the Premises. SECTION 3. The Commissioner of Public Property, on behalf of the City of Philadelphia, is hereby authorized to enter into an intergovernmental agreement with PAID for the development of a facility at the Premises. SECTION 4. The Commissioner of Public Property, on behalf of the City of Philadelphia, is hereby authorized to take title to the facility from PAID upon completion of development. SECTION 5. The City Solicitor is hereby authorized to review, to negotiate and to approve the various leases and subleases and all other instruments and documents necessary and appropriate to effectuate this Ordinance, which leases, subleases, instruments and documents shall contain such terms and conditions as the City Solicitor shall deem necessary, desirable, and proper to protect the interests of the City of Philadelphia. EXHIBIT A ..End