THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. The Commissioner of Public Property, on behalf of the City of Philadelphia, is authorized to execute a deed to the Philadelphia Authority for Industrial Development (PAID) and to accept a deed from PAID, and to execute all other necessary documents, for the purpose of exchanging a parcel of City-owned land that is part of a larger parcel commonly called the Kensington & Tacony Trail (the K&T Parcel) for a parcel of land in the Frankford Arsenal (the Arsenal Parcel). The K&T Parcel is described in Exhibit A to this Ordinance, and the Arsenal Parcel is described in Exhibit B to this Ordinance.
SECTION 2. The Chief Clerk shall keep a copy of Exhibit A and Exhibit B to this Ordinance on file in the Chief Clerk's Office for inspection by members of the public. The legal description of the K&T Parcel in the deed the Commissioner of Public Property is authorized to execute under this Ordinance, and the description of the Arsenal Parcel in the deed the Commissioner of Public Property is authorized to accept under this Ordinance, must be substantially in the form of the descriptions set forth, respectively, in Exhibit A and Exhibit B to this Ordinance.
SECTION 3. This Ordinance authorizes the City Solicitor to include in each deed in connection with the exchange of the K&T Parcel for the Arsenal Parcel those provisions that the City Solicitor deems necessary or appropriate to protect the interests of the City, and to prepare all additional agreements that the City Solicitor deems necessary or appropriate to protect the interests of the City.
SECTION 4. Upon completion of the City's acquisition of the Arsenal Parcel, the Arsenal Property is deemed incorporated into the Kensington & Tacony Trail under the jurisdiction of the Department of Parks and Recreation.
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