City of Philadelphia - File #: 230864

• File #: 230864
• Version: 1
• Type: Bill
• Status: ENACTED
• File created: 11/16/2023
• In control: Committee on Public Property and Public Works
• Final action: 12/14/2023
• Title: Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into a lease agreement with LIM SIV HOUY for use by the City of all or a portion of the premises located at 3724 North Broad Street, Philadelphia, Pennsylvania, under certain terms and conditions.
• Sponsors: Councilmember Bass
• Indexes: PUBLIC PROPERTY

Date	Ver.	Action By	Action	Result	Tally
12/20/2023	1	MAYOR	SIGNED
12/14/2023	1	CITY COUNCIL	READ AND PASSED	Pass	15:0
12/7/2023	1	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL
12/7/2023	1	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
12/5/2023	0	Committee on Public Property and Public Works	HEARING NOTICES SENT
12/5/2023	0	Committee on Public Property and Public Works	HEARING HELD
12/5/2023	0	Committee on Public Property and Public Works	AMENDED
12/5/2023	1	Committee on Public Property and Public Works	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
11/16/2023	0	CITY COUNCIL	Introduced and Referred

Title
Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into a lease agreement with LIM SIV HOUY for use by the City of all or a portion of the premises located at 3724 North Broad Street, Philadelphia, Pennsylvania, under certain terms and conditions.

Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. The Commissioner of Public Property is hereby authorized to enter into a lease with LIM SIV HOUY, with the City as a tenant, for use by the City, of all or a portion of the premises located at 3724 N. Broad Street, pursuant to the terms substantially set forth in the document attached hereto as Exhibit "A".

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 documents shall contain such terms and conditions as the City Solicitor shall deem necessary and proper to protect the interests of the City and to carry out the purpose of this Ordinance.



EXHIBIT "A"

Terms of Proposed Lease
For 3724 N. Broad Street, Philadelphia, PA 19140

1. Landlord: LIM SIV HOUY

2. Tenant: City of Philadelphia

3. Premises Address: 3724 N. Broad Street, Philadelphia, PA 19140

4. Use of the Premises: Approximately 1,500 rentable square feet of ground floor retail space to be used by Free Library of Philadelphia to expand the Nicetown-Tioga Branch.

5. Term of Lease: Fifteen (15) years, provided, however, that the City in accordance with Section 8-200(3) of the Philadelphia Home Rule Charter, shall have the right to terminate the Lease, at the City's sole option, at any time after the expiration of four (4) years without liability to the Landlord for damages or loss of profits that would have been realized had the lease not been terminated.

6. Renewal Term: The City shall have two (2) five (5) year renewal options.

7. Rent: Base rent during Lease Year 1 will be approximately $20.60 per...