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WHEREAS, The Philadelphia Gas Works by Philadelphia Facilities Management Corporation (PFMC) desires to enter into a lease amendment (Lease Amendment) 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 rent from Girard Square A NY LP, successor in interest to the City of Philadelphia, Trustee under the Will of Stephen Girard, deceased, acting by the Board of Directors of City Trusts certain premises located at 1137 Chestnut 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 April 26, 2010, approved the Lease Amendment between Philadelphia Gas Works by Philadelphia Facilities Management Corporation and Girard Square A NY LP, successor in interest to the City of Philadelphia, Trustee under the Will of Stephen Girard, deceased, acting by the Board of Directors of City Trusts, 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 Council does hereby approve the Lease Amendment concerning 1137 Chestnut Street, set forth in Exhibit A attached hereto and made a part hereto, between Philadelphia Gas Works by Philadelphia Facilities Management Corporation, and Girard Square A NY LP.
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.
EXHIBIT A
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