Title
Authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Authority for Industrial Development a deed for nominal consideration conveying fee simple title to certain tracts of City-owned land located at 837-839 Montrose Street, with the buildings and improvements thereon, 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 a deed for nominal consideration conveying fee simple title to certain tracts of City-owned land located at 837-839 Montrose Street, with the buildings and improvements thereon for further conveyance at fair market value, with the net proceeds to be returned to the General Fund.
SECTION 2. The City Solicitor is hereby authorized to review and to approve all instruments and documents necessary to effectuate this Ordinance, which instruments 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 carry out the purpose of this Ordinance.
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