Authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Authority for Industrial Development, for nominal consideration, a deed conveying fee simple title to a certain tract of City-owned land situate in an area generally located on the east side of University Avenue between Guardian Drive and Curie Boulevard, with the buildings and improvements thereon, for further conveyance at fair market value.

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. The Commissioner of Public Property is hereby authorized to execute and deliver to the Philadelphia Authority for Industrial Development, for nominal consideration, a deed conveying fee simple title to the following described tract of ground, with the buildings and improvements thereon, for further conveyance at fair market value, with the net proceeds to be returned to the General Fund:

ALL THAT CERTAIN lot or piece of ground with the buildings and improvements thereon erected Situate in the Twenty-seventh Ward of the City of Philadelphia, described in accordance with a Survey and Plan made June 23, 1986 by Earl T. Boyer, Surveyor and Regulator, Seventh Survey District, as follows:

BEGINNING at a point formed by the intersection of the southeasterly side of a certain twenty-five foot wide easement leading in a northeasterly and southwesterly direction and the easterly side of University Avenue (ninety feet wide), which point measured northwardly, along the said easterly side of University Avenue and University Avenue extension (variable width), various courses and distances, the total being one thousand one hundred sixty-four and one hundred eighty-five one-thousandths feet to a point of intersection with the southeasterly side of University Avenue extension and the southwesterly side of Spruce Street (eighty feet wide); thence extending from said beginning point, partly along the southeasterly side of said twenty-five foot wide easement north sixty-one degrees twenty-eight minutes thirty-six seconds east, the distance of one hundred seventeen and two hundred fifty one-thousandths feet to a point; thence continuing partly along the said twenty-five foot wide easement north sixty-one degrees fourteen minutes fifty seconds east, the distance of one hundred seventy-three and six hundred forty-seven one-thousandths feet to a point; thence extending south twenty-eight degrees, thirty-one minutes twenty-four seconds east, the distance of one hundred forty-seven and three hundred forty-two one-thousandths feet to a point on the northwesterly side of a certain eighteen foot wide easement leading in a northeasterly and southwesterly direction; thence extending partly along the said eighteen foot wide easement south sixty-one degrees eighteen minutes thirty-six seconds west, the distance of three hundred twenty-seven and eight hundred seventy-six one-thousandths feet to a point on the said easterly side of University Avenue; thence extending along the same in a northerly direction on a line curving to the left with a radius of two thousand fourteen and eight hundred ten one-thousandths feet, the arc distance of one hundred fifty-one and two hundred seventy-one one-thousandths feet to the first mentioned point and place of beginning.

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 interests of the City and carry out the purpose of this Ordinance.

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