Title
Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into a sublease and/or lease agreement under which the City will sublease and/or lease to CBS Broadcasting, Inc., a certain portion of the building commonly known as One Parkway Building, located at 1515 Arch Street, for the purpose of installing, constructing, erecting, operating, maintaining, repairing and replacing thereon and therein a tower and related wiring, cabling, equipment and appurtenances for use in connection with the broadcast of television and/or radio signals and the broadcast and reception of microwave and radio signals to and from a facility to be constructed on land located at the northwest corner of 15th and Arch Streets, all under certain terms and conditions.
Body
WHEREAS, Northwest 15th Street Associates (the "Developer") has acquired air rights and certain subterranean rights to a certain parcel of land owned by the Philadelphia Parking Authority and located on the northwest corner of 15th and Arch Streets (the "Project Site"), and intends to construct thereon a building for lease (the "Project Lease") to CBS Broadcasting, Inc. ("CBS"), for use by CBS as a broadcast facility with appurtenant office space (the "Broadcast Facility");
WHEREAS, due to the technical needs of the Broadcast Facility, CBS desires to sublease and/or lease (the "Agreement") from the City of Philadelphia (the "City") a portion of the building (the "Premises") commonly known as One Parkway Building, located at 1515 Arch Street ("OPB"), located adjacent to the Project Site, for the purpose of installing, constructing, erecting, operating, maintaining, repairing and replacing thereon and therein a tower (the "Tower") and related wiring, cabling, equipment and appurtenances (collectively, the "Tower Improvements"), for use in the broadcast of CBS's television and/or radio signals from the Broadcast Facility, and the broadcast and reception of m...
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