Title
Authorizing the Commissioner of Public Property, on behalf of The City of Philadelphia, to extend the term of a sublease agreement with the Philadelphia Municipal Authority for space that The City of Philadelphia subleases from the Philadelphia Municipal Authority located on the 2nd and 3rd floors of 111 S. 15th Street, under certain terms and conditions.
Body
WHEREAS, on July 17, 2002 the Philadelphia Municipal Authority entered into a year to year lease wherein it leased the 2nd and 3rd floors of 111 S. 15th Street from Chest-Pac Associates, L.P.;
WHEREAS, on July 17, 2002 The City of Philadelphia entered into a year to year sublease wherein it subleased that same space from the Philadelphia Municipal Authority; and
WHEREAS, the lease and sublease provide that upon the passage of an ordinance by City Council, the term of the lease and sublease shall extend until June 30, 2012; now, therefore,
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. The Commissioner of Public Property, on behalf of The City of Philadelphia, is hereby authorized to extend the term of its sublease agreement with the Philadelphia Municipal Authority (attached to this Ordinance as Exhibit A) to sublease from the Philadelphia Municipal Authority the 2nd and 3rd floors of 111 S. 15th Street until June 30, 2012.
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 of Philadelphia and carry out the purpose of this Ordinance.
SECTION 3. The Chief Clerk of City Council shall keep on file the documents referred to as Exhibit A and shall make them available for inspection by the public during regular office hours.
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