Title
Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into an Amendment to a Joint-Use Agreement with the Commonwealth of Pennsylvania pursuant to which certain parcels of real estate constituting the I-95 right-of-way, located beneath the elevated highway between the Benjamin Franklin Bridge and the Walt Whitman Bridge, are leased to the City of Philadelphia by the Commonwealth, subleased by the Interstate Land Management Corporation; all under certain terms and conditions.
Body
WHEREAS, as authorized by ordinance dated November 15, 1989, the Commissioner of Public Property, on behalf of the City, entered into a Joint-Use Agreement with the Commonwealth of Pennsylvania pursuant to which certain parcels of real estate constituting the I-95 right-of-way, located beneath the elevated highway between the Benjamin Franklin Bridget and the Walt Whitman Bridge was leased to the City of Philadelphia by the Commonwealth (the "Joint Use Agreement"), subleased by the City to the Philadelphia Authority for Industrial Development ("PAID"), which entered into a Second-Tier Sublease with the Interstate Land Management Corporation ("ILMC"), a non-profit corporation which has the duty to maintain the parcels on behalf of the City and market those areas not needed for the free movement of traffic, in order to generates funds for maintenance of parcels subject to the Joint-Use Agreement; and the Joint-Use Agreement, as subsequently amended, has been in full force and effect since march 29, 1990; and the City desires to extend the term of the Joint-Use Agreement with the Commonwealth and to continue to sublease the parcels to ILMC so that the ILMC has the duty to maintain the parcels on behalf of the City and market those areas that are not needed for free movement of traffic; now, therefore,
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. The Commissioner of Public Property, on behalf of the City ...
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