WHEREAS, on July 7, 2003 the Philadelphia Municipal Authority entered into a ten year lease wherein it leased the entire 16th floor and a portion of the 17th floor in the building commonly known as Two Penn Center Plaza from Crown Two Penn Center Associates;
WHEREAS, pursuant to Bill No. 030353, the City entered into a ten year sublease wherein it subleased this same space from the Philadelphia Municipal Authority; and
WHEREAS, Council wishes to authorize an amendment to the sublease with the Philadelphia Municipal Authority to extend the term of the sublease for an additional ten year period and to expand the rentable area by approximately 4,846 square feet, making the new total rentable area approximately 31,489 square feet; now, therefore
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1.
The Commissioner of Public Property, on behalf of the City, is hereby authorized to enter into an amendment to modify certain terms of a sublease between the Philadelphia Municipal Authority and the City of Philadelphia for the City’s use of certain office space located at Two Penn Center Plaza, under terms and conditions set forth in Exhibit “A” hereto, which shall extend the term of the sublease for an additional ten year period and expand the rentable area by approximately 4,846 square feet, making the new total rentable area approximately 31,489 square feet.
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 of Philadelphia and carry out the purpose of this Ordinance.
SECTION 3.
The Chief Clerk of City Council shall keep on file the document referred to as Exhibit “A” and shall make it available for inspection by the public during regular office hours.
End