Authorizing the Commissioner of Public Property to convey, to the Philadelphia Authority for Industrial Development, a parcel of land located in the vicinity of the Northeast corner of the intersection of Sepviva Street and East Firth Street, for further conveyance, under certain terms and conditions.

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 convey to the Philadelphia Authority for Industrial Development (PAID), a parcel of land located in the vicinity of the Northeast corner of the intersection of Sepviva Street and East Firth Street (commonly referred to as 2516-20 Sepviva Street), for further conveyance.

SECTION 2. Conveyance of this Property to PAID shall be conditioned upon agreement by PAID to remit to the City, for deposit in the General Fund, the net proceeds from the sale of the Property by PAID.

SECTION 3. 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.

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