WHEREAS, The Philadelphia Gas Works by Philadelphia Facilities Management Corporation (“PFMC”) desires to enter into a Third Lease Amendment Agreement whereby PFMC, in its capacity as operator and manager of the City-owned Philadelphia Gas Works, under and pursuant to an agreement with the City of Philadelphia dated December 29, 1972, as amended, will continue to rent to the Philadelphia Regional Port Authority, a premises known as PGW Lot #1, located near the intersection of Delaware avenue and Tioga street for an additional term; and
WHEREAS, Section VIII(3) of the Agreement dated December 29, 1972, as amended, between the City of Philadelphia and Philadelphia Facilities Management Corporation provides in part that leases of real estate by and for the Philadelphia Gas Works shall be submitted to the Philadelphia Gas Commission for its approval and shall be submitted to City Council for its approval by ordinance; and
WHEREAS, The Philadelphia Gas Commission at a meeting duly held on October 5, 1999, approved a Third Lease Amendment Agreement between Philadelphia Gas Works by Philadelphia Facilities Management Corporation and the Philadelphia Regional Port Authority, under certain terms and conditions, and favorably recommended the transaction to City Council; now therefore
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1.
Pursuant to Section VIII(3) of the Agreement dated December 29, 1972, as amended, between the City of Philadelphia and the Philadelphia Facilities Management Corporation the City does hereby approve the Third Lease Amendment Agreement, set forth in Exhibit “A” attached hereto and made a part hereto, between Philadelphia Gas Works by Philadelphia Facilities Management Corporation, and the Philadelphia Regional Port Authority.
SECTION 2.
The Exhibit “A” referred to and incorporated in this Ordinance shall be kept on file by the Chief Clerk of City Council and shall be available to the public for inspection, reading or copying at reasonable times.
End