THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. The Commissioner of Public Property on behalf of the City of Philadelphia is hereby authorized to execute and deliver to the Philadelphia Authority for Industrial Development a deed conveying fee simple title to certain parcels of land with the improvements thereon, generally described as follows, for further conveyance for fair market value:
ALL THAT CERTAIN lot or piece of ground in the 78th (formerly part of the 62nd) Ward of the City of Philadelphia.
SITUATE on the Southeast side of Frankford Avenue and Northeast side of Pratt Street, thence Northeast along Frankford Avenue 24 feet 11-1/4 inches, thence Southeast 60 feet, thence Southwest 20 feet to Northeast side of Pratt Street and thence Northwest along same 60 feet 2-1/2 inches to beginning.
BEING known as 5201 Frankford Avenue.
SECTION 2. The City Solicitor is hereby authorized to review and 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 to carry out the purposes of this Ordinance.
SECTION 3. Net proceeds from the sale of this property shall be deposited in the City's General Fund.
End