Title
Authorizing the Commissioner of Public Property and the Director of Commerce, on behalf of the City of Philadelphia, to enter into a lease agreement with the Commonwealth of Pennsylvania for property within the Commonwealth of Pennsylvania's Interstate 95 right-of-way between Spring Garden Street and Allegheny Avenue, as well as certain portions of the Commonwealth of Pennsylvania's North Delaware Avenue right-of-way between Spring Garden Street and Allegheny Avenue and certain portions of the Commonwealth of Pennsylvania's Richmond Street right-of-way between Spring Garden and Allegheny Avenue, to be further subleased by the City to the Delaware River Waterfront Corporation; all under certain terms and conditions.
Body
WHEREAS, Within the bounds of the City of Philadelphia, the Commonwealth of Pennsylvania has a right-of-way for Interstate 95, a right-of-way on North Delaware Avenue, and right-of-way on Richmond Avenue; and,
WHEREAS, The Commonwealth has determined that certain portions of its Interstate 95 right-of-way, certain portions of its North Delaware Avenue right-of-way, and certain portions of its Richmond Avenue right-of-way between Spring Garden Street and Allegheny Avenue, are available for leasing to the City; and,
WHEREAS, The City intends to sublease the portions of the Commonwealth's rights-of-way leased to the City to the Delaware River Waterfront Corporation, a nonprofit corporation with a mission to design, develop, program and maintain public amenities along the central Delaware River Waterfront; and,
WHEREAS, The Delaware River Waterfront Corporation will maintain the subleased property in accordance with a sublease between the City and the Delaware River Waterfront Corporation as well as the lease between the City and the Commonwealth and may further convey its subleasehold estate to generate funds necessary to maintain the property subject to the lease and sublease described in this ordinance.
THE COUNCIL OF THE CITY OF PHIL...
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