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), certain or all interests (including fee simple) in a portion of the parcel of land located in the vicinity of the Northeast corner of the intersection of Roosevelt Boulevard and Poquessing Avenue (commonly referred to as 8205 East Roosevelt Boulevard), and substantially as indicated on the map attached hereto as Exhibit A, for further conveyance.
SECTION 2. Conveyance of this Property to PAID under Section 1 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 Commissioner of Public Property on behalf of the City of Philadelphia is hereby further authorized to convey a temporary construction easement, for a term of no more than four years, to PennDOT, on the parcel of land located in the vicinity of the Northeast corner of the intersection of Roosevelt Boulevard and Poquessing Avenue (commonly referred to as 8205 East Roosevelt Boulevard), substantially as indicated on the map attached hereto as Exhibit A.
SECTION 4. The City Solicitor is hereby authorized to review and approve all instruments and documents necessary to effectuate the transactions authorized by 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.
End