Title
Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into a lease with Citizens Bank of Pennsylvania, to lease from Citizens Bank of Pennsylvania, certain parcels of ground located at 2208 West Indiana avenue, 2933-53 Croskey street and a portion of 2942-50 North Twenty-second street all in 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 a lease with Citizens Bank of Pennsylvania a Pennsylvania chartered bank to lease from Citizens Bank of Pennsylvania, for a period of up to ten (10) years for nominal consideration, certain parcels of ground located at 2208 West Indiana avenue, 2933-53 Croskey street and a portion of 2942-50 North Twenty-second street all in Philadelphia, Pennsylvania, under certain terms and conditions, being more fully set forth in Exhibit "A" to this Ordinance.
SECTION 2. The City Solicitor is hereby authorized to review and to approve the lease and other documents necessary to effectuate this Ordinance, which lease and other documents shall contain such terms and conditions as the City Solicitor shall deem necessary and proper to protect the interest of the City and to carry out the purposes of this Ordinance.
EXHIBIT "A"
TERMS AND CONDITIONS
22nd & Indiana Parking Lot
Lease Purpose and Background
The City will lease and sublease from Citizens Bank property located on N. 22nd Street in the Allegheny West neighborhood of North Philadelphia to construct a self-service parking lot for the exclusive use of the members, employees and invitees of the North 22nd Street Merchants' Association. After construction is completed, the North 22nd Street Merchants' Association will sublease the entire lot from the City of Philadelphia and pay for its operations, including insurance and ma...
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