Tranmsitting a bill authorizing the Commissioner of Public Property to enter into a series of transactions whereby The City of Philadelphia ("City") would: (a) sell to the Philadelphia Authority for Industrial Development ("PAID") a certain City-owned building located at 1901 Vine Street ("Free Library Building"), provided that PAID resells the Free Library Building to a certain third party or parties; (b) lease from PAID the Free Library Building upon PAID's lease of the building from a certain third party or parties; (c) lease to PAID the land bounded by 19th Street, Vine Street, 20th Street and the former Wood Street ("Free Library Land"), provided that PAID leases the Free Library Land to a certain third party or parties; and (d) lease from PAID the Free Library Land upon PAID's lease of the land from a certain third party or parties; all under and subject to certain terms and conditions, accompanied by an explanatory letter from the Director of Finance.

Title

Tranmsitting a bill authorizing the Commissioner of Public Property to enter into a series of transactions whereby The City of Philadelphia (“City”) would: (a) sell to the Philadelphia Authority for Industrial Development (“PAID”) a certain City-owned building located at 1901 Vine Street (“Free Library Building”), provided that PAID resells the Free Library Building to a certain third party or parties; (b) lease from PAID the Free Library Building upon PAID's lease of the building from a certain third party or parties; (c) lease to PAID the land bounded by 19th Street, Vine Street, 20th Street and the former Wood Street (“Free Library Land”), provided that PAID leases the Free Library Land to a certain third party or parties; and (d) lease from PAID the Free Library Land upon PAID's lease of the land from a certain third party or parties; all under and subject to certain terms and conditions, accompanied by an explanatory letter from the Director of Finance.

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