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Title:
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Authorizing the Commissioner of Public Property to enter into a series of transactions whereby The City of Philadelphia ("City") would: (a) sell to the Philadelphia Authority for Industrial Development ("PAID") a certain City-owned building located at 1901 Vine Street ("Free Library Building"), provided that PAID resells the Free Library Building to a certain third party or parties; (b) lease from PAID the Free Library Building upon PAID's lease of the building from a certain third party or parties; (c) lease to PAID the land bounded by Nineteenth Street, Vine Street, Twentieth Street and the former Wood Street ("Free Library Land"), provided that PAID leases the Free Library Land to a certain third party or parties; and (d) lease from PAID the Free Library Land upon PAID's lease of the land from a certain third party or parties; all under and subject to certain terms and conditions.
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Action text:
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A motion was made by Councilmember Clarke that this matter be Introduced. The motion carried unanimously.
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