Council ActionMAYOR
SIGNED
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Official action detail
Source: LegislationDetail.aspx · gridLegislation
Full Bill
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 enter into lease and sublease agreements with the Philadelphia Municipal Authority with respect to certain land and improvements located on the northwest corner of North 15th Street and Arch Street (Premises), pursuant to terms substantially set forth in the document attached hereto as Exhibit "A", and such other agreements as are necessary and proper to effectuate the construction and operation of a new family court building.
SECTION 2. The City Solicitor is authorized to include in the Lease and Sublease and such other agreements such terms and conditions as in the opinion of the City Solicitor shall be necessary and proper to protect the interests of the City.
EXHIBIT "A"
Terms of Proposed Lease and Sublease Agreements
between the City of Philadelphia and the Philadelphia Municipal Authority
for land and improvements located on the northwest corner of North 15th Street and Arch Street
1. Exhibit "A" Definitions:
"Commonwealth"
means the Commonwealth of Pennsylvania
"PMA"
means the Philadelphia Municipal Authority
"City"
means the City of Philadelphia
"FJD"
means the First Judicial District of Pennsylvania
"Premises"
means the family court building to be constructed on the northwest corner of N. 15th Street and Arch Street.
2. Basic Structure of Lease and Sublease Transactions:
i) The Commonwealth will construct the Premises at its sole cost and expense, and, following construction, lease the Premises to PMA.
ii) PMA will sublease the Premises to the City
iii) The City will sublease the Premises to PMA
iv) PMA will sublease the Premises to FJD
3. Term:
The term of lease and sublease agreements shall be at least thirty (30) years.
4. Rent:
Nominal.
5. Maintenance, Repairs and Utilities:
The City and FJD will apportion responsibility for the cost of maintenance.
End