Title
Honorable Anna Verna
President
Council of the City of Philadelphia
Room 401
City Hall
Philadelphia, PA 19101
Re: Legislation Pertaining to Veterans Stadium Rehabilitation
Dear Madam President Verna:
I am pleased to forward for introduction a package of bills to provide funding for (and approval of) repairs to Veterans Stadium, as well as a number of informational items pertinent to this legislation. Passage of this legislation will enable the City to fulfill its obligations as the landlord of Veterans Stadium under our leases with the Phillies and the Eagles. We look forward to working with you and the members of City Council in the consideration of this legislation.
The enclosed bills and other information are as follows:
A. Bills.
1. Bill authorizing approval of leases with the Philadelphia Authority for Industrial Development (copies of leases attached as exhibits to the bill); and
2. Bill amending the Fiscal Year 2001 Capital Budget pursuant to the requirements of Bill 000-0082 by providing approval of specific items of rehabilitation work for Veterans Stadium (itemization of proposed rehabilitation work included as Attachment 'A').
B. Informational materials.
1. A term sheet setting forth the subject matter of the proposed Bills; the reasons for their introduction; and what, if any, fiscal or personnel changes may occur by passage of such Bills.
2. Clean and "red-lined" copies of an Amended and Restated Prime Lease concerning the Eagles' practice facility. These amendments conform the Prime Lease provisions to those set forth in the Veterans Stadium Sublease so as to facilitate the successful marketing of bonds by PAID. This is an informational item only; City Council has granted authority to the City Solicitor pursuant to Bill 000080 to approve the changes made in the Amended and Restated Prime Lease.
3. A letter to Kenneth I. Trujillo, Esq., City Solicitor from Paine Webber Incorporated, which acts as the ...
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