Title
Authorizing the Commissioner of Health and the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into agreements with the Philadelphia Authority for Industrial Development for the development of a mixed-use condominium and Health Center facility on premises located on Frankford Avenue in the vicinity of Pratt Street and Dyre Street; owned by FCDC Development Properties I LLC or an affiliated entity, and authorizing the Commissioner of Public Property to enter into a long-term lease or sublease agreement for the occupancy and operation of the Heath Center facility on said premises; and authorizing the Commissioner of Public Property to acquire fee simple title to, or a lesser interest in, the completed Health Center facility, including a condominium unit, or to facilitate the transfer of title in the completed Health Center facility, including a condominium unit, to the Philadelphia Authority for Industrial Development or the Philadelphia Municipal Authority for the benefit of the City, all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. The Commissioner of Health and the Commissioner of Public Property, on behalf of the City of Philadelphia, are hereby authorized to enter into agreements with the Philadelphia Authority for Industrial Development ("PAID") for PAID to finance the development of a mixed-use condominium project containing a City Heath Center facility on premises located on Frankford Avenue in the vicinity of Pratt Street and Dyre Street; owned by FCDC Development Properties I LLC or an affiliated entity; and authorizing the Commissioner of Public Property to acquire fee simple title to, or a lesser interest in, the completed Health Center facility, or to facilitate the transfer of title in the completed Health Center premises, including a condominium unit, to PAID or the Philadelphia Municipal Authority ("PMA") for the benefit of the City, subject to t...
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