civus
BillENACTED

Bill 260339

Amending Bill No. 241031 (approved January 15, 2025), entitled “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 1 S. Broad Street, Philadelphia, Pennsylvania, under certain terms and conditions,” to authorize the lease of additional space within the premises, under certain terms and conditions.

Introduced Apr 16, 2026Committee on Public Property and Public WorksOfficial record: City of Philadelphia via Legistar

Introduced by

Councilmember Squilla

How members voted

  1. Vote on May 7, 2026 · CITY COUNCIL

    Aye (15)

    Councilmember BassCouncilmember DriscollCouncilmember GauthierCouncilmember Gilmore RichardsonCouncilmember HarrityCouncilmember JonesCouncilmember LozadaCouncilmember O'NeillCouncilmember SquillaCouncilmember ThomasCouncilmember AhmadCouncilmember LandauCouncilmember O'RourkeCouncilmember YoungCouncil President Johnson

From the floor

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

  1. “260338, an ordinance authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to grant PECO Energy Company an easement for the purpose of accessing, installing, maintaining, and repairing underground transformers and supporting infrastructure along and adjacent to a portion of the Pennypack Path in and about the area commonly known as 7801 State Road, under certain terms and conditions.…”

    Chief Clerk · Stated Meeting, May 7, 2026 · May 7, 2026 · official transcript, this passage

  2. “The Committee on Public Property and Public Works to which we referred the following bills: Bill No. 251067, an ordinance authorizing real estate transaction by the Commissioner of Public Property, the Philadelphia Redevelopment Authority, and the Philadelphia Land Bank necessary to permit the city of Philadelphia to acquire property bounded by Island Avenue, Elmwood Avenue, South 77th Street, Buist Avenue, South 78t…”

    Chief Clerk · Stated Meeting, April 30, 2026 · Apr 30, 2026 · official transcript, this passage

Status timeline

  1. Apr 16, 2026Introduced and Referred · CITY COUNCIL
  2. Apr 27, 2026HEARING NOTICES SENT · Committee on Public Property and Public Works
  3. Apr 27, 2026HEARING HELD · Committee on Public Property and Public Works
  4. Apr 27, 2026REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Public Property and Public Works
  5. Apr 30, 2026SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
  6. Apr 30, 2026ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
  7. Apr 30, 2026READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR · CITY COUNCIL
  8. May 7, 2026READ AND PASSED · CITY COUNCIL
  9. May 12, 2026SIGNED · MAYOR

Official documents

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

Full text

Read the full text as published

..Title Amending Bill No. 241031 (approved January 15, 2025), entitled "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 1 S. Broad Street, Philadelphia, Pennsylvania, under certain terms and conditions," to authorize the lease of additional space within the premises, under certain terms and conditions. ..Body THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: Section 1. Exhibit "A" to Bill No. 241031 (approved January 15, 2025), entitled "Terms of Proposed Sublease For 1 S. Broad Street, Philadelphia, Pennsylvania, 19107" is hereby amended as set forth in the attached version of Exhibit A (additions to the Bill in Bold; deletions in Strikethrough): EXHIBIT "A" Terms of Proposed Sublease For 1 S. Broad Street, Philadelphia, Pennsylvania, 19107 1. Landlord: Broad One L.P. CBRE, Inc. 2. Tenant/Sublandlord: Philadelphia Municipal Authority 3. Subtenant: City of Philadelphia 4. Premises Address: 1 S. Broad Street, Philadelphia, Pennsylvania, 19107 5. Use of the Premises: Approximately 18,439 30,894 rentable square feet for office use. use, consisting of 18,439 square feet on the 3rd floor and an additional 12,455 square feet on the 7th floor. 6. Term of Lease: Fifteen (15) years 7. Renewal Term: The City shall have one (1) five (5) year renewal option. 8. Rent: Base rent for Lease Year 1 will be $15.75 per square foot and shall escalate at a rate of approximately 6% after Lease Year 3, Lease Year 6, Lease Year 9, and Lease Year 12. Should the City exercise its renewal term option, the base rent will be escalated at a rate of approximately 10% after Lease Year 15 and remain at the same base rent rate for the remaining years of the renewal term. The total base rent for Lease Year 1 will be $290,414.25. shall escalate in accordance with the Master Lease. 9. Utilities: The City is not responsible for utilities shall pay Landlord $1.50 per square foot of the Premises for all utilities. This utility rate shall escalate in accordance with the Master Lease. 10. Operating Expenses: The City shall be responsible for its proportionate share of operating expenses. 11. Tenant Improvements: Landlord shall fit out the Premises based on a mutually accepted space plan and provide a tenant improvement allowance of $737,560.00. $1,235,760. ..End