City of Philadelphia - File #: 070447

• File #: 070447
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 5/24/2007
• In control: Committee on Public Property and Public Works
• Final action: 6/14/2007
• Title: Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia (the "City") to enter into a Sublease Agreement (the "Sublease") by and between the City and the Philadelphia Authority for Industrial Development ("PAID") providing for the leasing by PAID to the City of a certain building known as the Tower Building; covenanting to make appropriations in each of the City's fiscal years to provide for rental payments due under the Sublease; authorizing the Director of Finance and other officials of the City to take all actions necessary to accomplish the intent and purpose of this Ordinance and the Sublease and other agreements; and authorizing approval of all of the terms of the agreements and other documents and amendments thereto by the Director of Finance and/or the City Solicitor.
• Sponsors: Councilmember Savage
• Indexes: PAID

Date	Ver.	Action By	Action	Result	Tally
7/3/2007	0	MAYOR	SIGNED
6/14/2007	0	CITY COUNCIL	READ
6/14/2007	0	CITY COUNCIL	PASSED	Pass	17:0
6/7/2007	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
6/7/2007	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
6/7/2007	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
6/4/2007	0	Committee on Public Property and Public Works	HEARING NOTICES SENT
6/4/2007	0	Committee on Public Property and Public Works	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
6/4/2007	0	Committee on Public Property and Public Works	HEARING HELD
5/24/2007	0	CITY COUNCIL	Introduced	Pass
5/24/2007	0	CITY COUNCIL	Referred

Title
Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia (the "City") to enter into a Sublease Agreement (the "Sublease") by and between the City and the Philadelphia Authority for Industrial Development ("PAID") providing for the leasing by PAID to the City of a certain building known as the Tower Building; covenanting to make appropriations in each of the City's fiscal years to provide for rental payments due under the Sublease; authorizing the Director of Finance and other officials of the City to take all actions necessary to accomplish the intent and purpose of this Ordinance and the Sublease and other agreements; and authorizing approval of all of the terms of the agreements and other documents and amendments thereto by the Director of Finance and/or the City Solicitor.
Body
WHEREAS, Episcopal Hospital ("EH") and the City have determined that it is necessary and appropriate to provide for the renovation of the Tower Building ("EH Project") by providing for the costs of the EH Project consisting of the renovation of the current Tower Building (as defined herein); and
WHEREAS, Philadelphia Authority for Industrial Development ("PAID") will authorize the lease of the building and the improvements located at 100 East Lehigh Avenue, Philadelphia, Pennsylvania 19125 ("Tower Building"); and
WHEREAS, EH may request that PAID assist in financing a portion of the costs of the EH Project as a public facility and issuing bonds on behalf of EH to finance such portion of the costs; and
WHEREAS, PAID is willing to undertake the EH Project as a public facility pursuant to its statutory powers; and
WHEREAS, the City is willing to enter into the Sublease with PAID for a specified term under terms and conditions requiring the City, inter alia, to make rental and other payments sufficient to pay: (A) the amount expressed as the Rental Rate plus Occupancy Costs specified on the Term Sheet attached hereto ...