Title
Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into a lease agreement with 2401 Walnut LP, for use by the City of a portion of the premises located at 2401 Walnut Street, Philadelphia, Pennsylvania, under certain terms and conditions.
Body
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 enter into a lease agreement with 2401 Walnut LP, for use by the City of a portion of the premises located at 2401 Walnut Street, Philadelphia, Pennsylvania, 19103 pursuant to terms substantially set forth in Exhibit "A".
SECTION 2. The Commissioner of Public Property is hereby authorized to take all actions deemed by the Commissioner to be necessary and appropriate to carry out the provisions and intent of this Ordinance, including executing all instruments and ancillary documents necessary and appropriate for the City to carry out the purposes of this Ordinance.
SECTION 3. The City Solicitor is hereby authorized to review, negotiate, and approve the lease and all other ancillary documents deemed by the City Solicitor to be necessary and appropriate to carry out the provisions and the intent of this Ordinance, which lease and documents shall contain such terms and conditions deemed by the City Solicitor to be necessary, desirable and in the best interests of the City to carry out the purpose of this Ordinance.
EXHIBIT "A"
Terms of Proposed Lease
For 2401 Walnut Street, Suite 501 & 502, Philadelphia, Pennsylvania, 19103
1. Landlord: 2401 Walnut LP
2. Tenant: City of Philadelphia
3. Premises Address: 2401 Walnut Street, Suite 501 & 502, Philadelphia, Pennsylvania 19103
4. Use of the Premises: Approximately 15,895 rentable square feet for office use.
5. Term of Lease: Ten (10) years, provided that in accordance with Section 8-200(3) of the Philadelphia Home Rule Charter the City shall ...
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