Title
Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to convey to Philadelphia Authority for Industrial Development all or a portion of a parcel or parcels of land in and about the area bounded by Frankford Avenue, East Butler Street, Wheatsheaf Lane and the railroad right-of-way of the former Philadelphia and Trenton Railroad, 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 Philadelphia Authority for Industrial Development (“PAID”) some or all of the parcels of land located in and about the area bounded by Frankford Avenue, East Butler Street, Wheatsheaf Lane and the railroad right of way of the former Philadelphia and Trenton Railroad, as more particularly identified in Exhibit “A”, for further conveyance.
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, upon further conveyance.
SECTION 3. The City Solicitor is hereby authorized to review and to approve, prior to execution, all instruments and documents necessary to effectuate this Ordinance, which instruments and documents shall contain such terms and conditions as the City Solicitor shall deem necessary and proper to protect the interests of the City.
EXHIBIT A
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