Amending Bill No. 970833, approved June 25, 1998, entitled "An Ordinance authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Redevelopment Authority, without consideration, a deed conveying fee simple title to a certain tract of City-owned land with the buildings and improvements thereon, situate at the northwest corner of Fifth and Huntingdon streets and authorizing the Commissioner of Public Property to enter into or to execute such other agreements as may be necessary or desirable to effectuate the provisions of this Ordinance, all under certain terms and conditions," by authorizing conveyance to the Redevelopment Authority of the City of Philadelphia or the Philadelphia Industrial Development Corporation, and by extending the term for compliance with the conditions to June 30, 2001.

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1.

Sections 1 and 2 of Bill No. 970833, approved June 25, 1998, are hereby amended as follows:

SECTION 1.

The Commissioner of Public Property is hereby authorized to execute and deliver to the Redevelopment Authority of the City of Philadelphia (“RDA”)

or the Philadelphia Industrial Development Corporation (“PIDC”), to whichever entity as he deems appropriate

, without consideration, a deed conveying fee simple title to the following described tract of ground, in “as is” condition, and subject to

SECTION 2.

The City Solicitor is hereby authorized to review and to approve 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 interest of the City and to carry out the purposes of the RDA Agreement

or the PIDC Agreement,

and this Ordinance. The authorization set forth in Section 1 is further conditioned on the following occurring by [February 1, 1999]

June 30, 2001

:

or PIDC,

the

RDA

or PIDC

shall enter into a redevelopment contract with AMLA subject to all terms and conditions of the redevelopment contract being deemed appropriate by the Commissioner of Public Property; and

___________________________________

Explanation:

[Brackets] indicate matter deleted.

Italics

indicate new matter added.

End