City of Philadelphia - File #: 120084

• File #: 120084
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 2/9/2012
• In control: Committee on Public Property and Public Works
• Final action: 3/22/2012
• Title: Authorizing the Commissioner of Public Property to enter into a sublease agreement with the Philadelphia Authority for Industrial Development, for certain land and improvements located at 300 E. Hunting Park Avenue, all under certain terms and conditions.
• Sponsors: Councilmember Quiñones Sánchez
• Indexes: PAID

Date	Ver.	Action By	Action	Result	Tally
3/30/2012	0	MAYOR	SIGNED
3/22/2012	0	CITY COUNCIL	READ AND PASSED	Pass	17:0
3/15/2012	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
3/15/2012	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
3/15/2012	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
3/14/2012	0	Committee on Public Property and Public Works	HEARING NOTICES SENT
3/14/2012	0	Committee on Public Property and Public Works	HEARING HELD
3/14/2012	0	Committee on Public Property and Public Works	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
2/9/2012	0	CITY COUNCIL	Introduced and Referred	Pass

Title
Authorizing the Commissioner of Public Property to enter into a sublease agreement with the Philadelphia Authority for Industrial Development, for certain land and improvements located at 300 E. Hunting Park Avenue, all under certain terms and conditions.

Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. The Commissioner of Public Property is hereby authorized to enter into a sublease agreement for certain land and improvements located at 300 E. Hunting Park Avenue ("Premises"), with the Philadelphia Authority for Industrial Development ("PAID"), wherein PAID shall sublease the premises to the City, pursuant to terms substantially similar to those set forth in the document attached hereto as Exhibit "A".

SECTION 2. The City Solicitor is hereby authorized to review and to approve the lease and other documents necessary to effectuate this Ordinance, which lease 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 to carry out the purpose of this Ordinance.



EXHIBIT "A"

Terms of proposed Sublease Agreement between the Philadelphia Authority for Industrial Development and the City of Philadelphia for certain land and improvements located at 300 E. Hunting Park Avenue.

1. Exhibit "A" Definitions:

"PAID" means the Philadelphia Authority for Industrial Development

"City" means the City of Philadelphia

"Landlord" means ISCP Development L.L.C.

"Premises" means the land and improvements at 300 E. Hunting Park Avenue.

2. Basic Structure of Sublease Transaction:

i) ISCP Development L.L.C. will lease the Premises to PAID.

ii) PAID will sublease the Premises to the City.

3. Sublease Terms:

i) Premises: Approximately 40,000 Rentable Square Feet on one floor building. Premises includes over 140 car parking on site. The building entrance will be off of E. Hunting Park Ave...