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File #: 171011    Version: 0 Name:
Type: Bill Status: ENACTED
File created: 11/16/2017 In control: Committee on Public Property and Public Works
On agenda: Final action: 12/14/2017
Title: Authorizing the Commissioner of Public Property, on behalf of the City, to enter into an amendment to an existing lease agreement with the Southeastern Pennsylvania Transportation Authority, for use by the City of all or a portion of the premises located at 1234 Market Street, under certain terms and conditions.
Sponsors: Councilmember Squilla
Indexes: AGREEMENTS
Attachments: 1. CertifiedCopy17101100.pdf
Date Ver.Action ByActionResultTallyAction DetailsVideo
1/3/20180 MAYOR SIGNED   Action details Not available
12/14/20170 CITY COUNCIL READ AND PASSEDPass17:0 Action details Not available
12/7/20170 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass  Action details Not available
12/7/20170 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
12/7/20170 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Not available
12/6/20170 Committee on Public Property and Public Works HEARING NOTICES SENT   Action details Not available
12/6/20170 Committee on Public Property and Public Works HEARING HELD   Action details Not available
12/6/20170 Committee on Public Property and Public Works REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Not available
11/16/20170 CITY COUNCIL Introduced and ReferredPass  Action details Not available
Title
Authorizing the Commissioner of Public Property, on behalf of the City, to enter into an amendment to an existing lease agreement with the Southeastern Pennsylvania Transportation Authority, for use by the City of all or a portion of the premises located at 1234 Market Street, 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 an amendment to an existing lease agreement with the Southeastern Pennsylvania Transportation Authority, with City as tenant, for use by the City, of all or a portion of the premises located at 1234 Market Street, Philadelphia, Pennsylvania, pursuant to terms substantially 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 amendment and other documents necessary to effectuate this Ordinance, which lease amendment 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 Lease Amendment
1234 Market Street, Philadelphia, PA

1. Landlord: Southeastern Pennsylvania Transportation Authority ("SEPTA").

2. Tenant: The City of Philadelphia

3. Premises Address: 1234 Market Street, Philadelphia, PA

4. Use of the Premises: Approximately 12,387 square feet, to be used for office space.
5. Term of Amendment: To be conterminous with the City's existing lease expiration date of June 30, 2024. Based on a February 1, 2018 commencement date, the term will be six (6) years, five (5) months.

6. Renewal Terms: Tenant shall have one (1) five (5) year renewal option.

7. Rent: The annual base rent will be approximately $22.50 per square foot for the first year with approx...

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