Title
Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to convey to the Philadelphia Authority for Industrial Development, a parcel of land commonly known as 3303 West Glenwood Avenue, for further conveyance, 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 convey to the Philadelphia Authority for Industrial Development (PAID), a parcel of land commonly known as 3303 West Glenwood Avenue, as more particularly identified in Exhibit “A”, for further conveyance, under certain terms and conditions.
SECTION 2. Conveyance of the property to PAID shall be conditioned upon a commitment by PAID to require an Economic Opportunity Plan in accordance with Section 17-1602 of The Philadelphia Code, as amended.
SECTION 3. Further conveyance of the property by PAID must occur within one (1) year of this Ordinance becoming law.
SECTION 4. Further conveyance of the property by PAID shall not be made unless and until all financing for the redevelopment of the property for use as a school has been secured.
SECTION 5. The City Solicitor is authorized to impose such terms and conditions on the transaction authorized by this Ordinance as the City Solicitor deems necessary and proper to protect the interest of the City and to carry out the purposes of this Ordinance.
Exhibit "A"
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