Title
Authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Authority for Industrial Development, for nominal consideration, a deed conveying fee simple title to a certain tract of City-owned land with buildings and improvements thereon, situate 1716-32 Frankford Avenue, for further conveyance at fair market value.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. The Commissioner of Public Property is hereby authorized to execute and deliver to the Philadelphia Authority for Industrial Development for nominal consideration, a deed conveying fee simple title to a certain tract of City-owned land, with the buildings and improvements thereon, situate 1716-32 Frankford Avenue, for further conveyance at fair market value.
SECTION 2. Net proceeds from the sale of this property shall be deposited in the City's General Fund.
End