City of Philadelphia - File #: 070994-A

• File #: 070994-A
• Version: 2
• Type: Bill
• Status: ENACTED
• File created: 11/15/2007
• In control: Committee of the Whole
• Final action: 12/19/2007
• Title: Authorizing the Director of Finance, Commissioner of Public Property and other officials of the City to execute either directly or through the Philadelphia Authority for Industrial Development various agreements, instruments of conveyance and other transactional documents by and among the City, the Commonwealth of Pennsylvania and the Pennsylvania Convention Center Authority related to the development, construction, financing, operation and management of an expanded Pennsylvania Convention Center and including the defeasance of outstanding Pennsylvania Convention Center Authority bonds, the release of the lien of the Trust Indenture dated as of December 15, 1989, as amended and supplemented, relating to such bonds, the termination of the existing Lease and Service Agreement, the sale of the existing Convention Center building and improvements to the Philadelphia Authority for Industrial Development for further conveyance to the Commonwealth of Pennsylvania, or its designee and the exe...
• Sponsors: Councilmember DiCicco
• Indexes: CITY-OWNED PARCELS, CONVENTION CENTER

Date	Ver.	Action By	Action	Result	Tally
12/21/2007	2	MAYOR	SIGNED
12/19/2007	2	CITY COUNCIL	READ
12/19/2007	2	CITY COUNCIL	PASSED	Pass	15:0
12/13/2007	1	CITY COUNCIL	READ
12/13/2007	2	CITY COUNCIL	AMENDED
12/13/2007	2	CITY COUNCIL	ORDERED PLACED ON FINAL PASSAGE CALENDAR FOR NEXT MEETING.
12/13/2007	1	CITY COUNCIL	TABLED
12/6/2007	1	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
12/6/2007	0	Committee of the Whole	HEARING NOTICES SENT
12/6/2007	0	Committee of the Whole	HEARING NOTICES SENT
12/6/2007	1	Committee of the Whole	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
12/6/2007	0	Committee of the Whole	AMENDED
12/6/2007	0	Committee of the Whole	AMENDED
12/6/2007	0	Committee of the Whole	HEARING HELD
12/6/2007	0	Committee of the Whole	HEARING HELD
12/6/2007	1	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
12/6/2007	1	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
12/4/2007	0	Committee of the Whole	HEARING HELD
12/4/2007	0	Committee of the Whole	HEARING HELD
12/4/2007	0	Committee of the Whole	RECESSED
12/4/2007	0	Committee of the Whole	RECESSED
11/30/2007	0	Committee of the Whole	HEARING NOTICES SENT
11/30/2007	0	Committee of the Whole	HEARING NOTICES SENT
11/30/2007	0	Committee of the Whole	RECESSED
11/30/2007	0	Committee of the Whole	RECESSED
11/30/2007	0	Committee of the Whole	HEARING HELD
11/30/2007	0	Committee of the Whole	HEARING HELD
11/15/2007	0	CITY COUNCIL	Referred
11/15/2007	0	CITY COUNCIL	Referred
11/15/2007	0	CITY COUNCIL	Introduced	Pass
11/15/2007	0	CITY COUNCIL	Introduced	Pass

Title
Authorizing the Director of Finance, Commissioner of Public Property and other officials of the City to execute either directly or through the Philadelphia Authority for Industrial Development various agreements, instruments of conveyance and other transactional documents by and among the City, the Commonwealth of Pennsylvania and the Pennsylvania Convention Center Authority related to the development, construction, financing, operation and management of an expanded Pennsylvania Convention Center and including the defeasance of outstanding Pennsylvania Convention Center Authority bonds, the release of the lien of the Trust Indenture dated as of December 15, 1989, as amended and supplemented, relating to such bonds, the termination of the existing Lease and Service Agreement, the sale of the existing Convention Center building and improvements to the Philadelphia Authority for Industrial Development for further conveyance to the Commonwealth of Pennsylvania, or its designee and the execution of a long term ground lease of the land under the existing Convention Center to the Commonwealth of Pennsylvania; all under certain terms and conditions.
Body
WHEREAS, By agreement dated December 14, 1989 (authorized by Bill No. 533 of 1989) City and the Pennsylvania Convention Center Authority (the "Authority") entered into a Lease and Service Agreement, as amended and supplemented (the "Original Lease and Service Agreement") pursuant to which, among other things, the City leased certain real property to the Authority (the "Land") and provided for the design, development, construction, operation and management of the Pennsylvania Convention Center (the "Original Convention Center") and payment by the City to the Authority of a certain service fee (the "Service Fee"). The Original Lease and Service Agreement provided that upon its termination, title to all buildings, improvements and fixtures (the "Improvements") would automatically vest in the City without ...