City of Philadelphia - File #: 210450

• File #: 210450
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 5/13/2021
• In control: Committee on Public Property and Public Works
• Final action: 6/17/2021
• Title: Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into an amendment to a lease agreement with Southeastern Pennsylvania Transportation Authority ("SEPTA"), for use by the City, of a portion of the premises located at 1234 Market Street, Philadelphia, Pennsylvania by the City, all under certain terms and conditions.
• Sponsors: Councilmember Squilla
• Indexes: AGREEMENTS, SEPTA

Date	Ver.	Action By	Action	Result	Tally
7/1/2021	0	MAYOR	SIGNED
6/17/2021	0	CITY COUNCIL	READ AND PASSED	Pass	17:0
6/10/2021	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL
6/10/2021	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
6/10/2021	0	CITY COUNCIL	READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR
5/28/2021	0	Committee on Public Property and Public Works	HEARING NOTICES SENT
5/28/2021	0	Committee on Public Property and Public Works	HEARING HELD
5/28/2021	0	Committee on Public Property and Public Works	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
5/13/2021	0	CITY COUNCIL	Introduced and Referred

Title
Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into an amendment to a lease agreement with Southeastern Pennsylvania Transportation Authority ("SEPTA"), for use by the City, of a portion of the premises located at 1234 Market Street, Philadelphia, Pennsylvania by the City, all 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 a lease agreement with Southeastern Pennsylvania Transportation Authority ("SEPTA"), for use by the City, of 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 amendment to the lease and other documents necessary to effectuate this Ordinance, which amendment to the lease 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 Sublease
For 1234 Market Street, Philadelphia, PA


1. Landlord: Southeastern Pennsylvania Transportation Authority

2. Tenant: City of Philadelphia

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

5. Use of the Premises: Approximately 54,080 rentable square feet, to be used for office space.
6. Term of Lease: January 1, 2021 through October 31, 2032

7. Rent: The annual base rent, will be approximately $24.00 per rentable square foot in Lease Year 1 and will escalate at a rate of approximately $.50 per rentable square foot per year thereafter. At approximately 54,080 rentable square feet, the first year's annual base rent will be approximately $1,2...