Title
Authorizing the City of Philadelphia to enter into lease agreements with the Philadelphia Authority for Industrial Development under which the City would lease to PAID on a project-by-project basis certain land and facilities in the Fairmount Park system, recreations centers, playgrounds, and branches in the Free Library of Philadelphia system, and which would permit PAID to sublease such Facilities on a project-by-project basis to other organizations in conformity with the Economic Development Financing Law, Act 1967-102 (P.L. 251), as amended, all under certain terms and conditions.
Body
WHEREAS, the City of Philadelphia has authorized the issuance of certain bonds ("Rebuild Bonds") by the Philadelphia Authority for Industrial Development ("PAID") for improvements to certain land and facilities in the Fairmount Park system, recreations centers, playgrounds, and branches in the Free Library of Philadelphia system (collectively, the "Facilities") by ordinance, Bill No. 170206, signed into law on June 28, 2017;
WHEREAS, Bill No. 170206 established certain requirements, including submittal of a Project Statement, an annual line-item budget and an Economic Opportunity Plan for approval by Resolution, that must be met prior to conveying interests in City-owned real estate for purposes related to the Rebuild Bonds;
WHEREAS, the requirements of Bill No. 170206 have been met;
WHEREAS, City Council has authorized the Commissioner of Public Property, the Commissioner of Parks and Recreation, and the Director of the Free Library of Philadelphia, on behalf of the City of Philadelphia, to enter into lease agreements for certain Facilities with PAID on a project-by-project basis, by ordinance, Bill No. 180108, signed into law on June 20, 2018;
WHEREAS, the City of Philadelphia desires to add to the list set forth in Bill No. 180108 of authorized Facilities available to be leased to PAID and subleased to charitable organizations; NOW THEREFORE,
THE COUNCIL OF TH...
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