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WHEREAS, Chapter 16-700 of The Philadelphia Code authorized the creation of the Philadelphia Land Bank and provides, in part, that a primary purpose of the Land Bank is to acquire and consolidate surplus property of the City of Philadelphia with due speed and diligence; and
WHEREAS, The Commonwealth enabling legislation allowing the City to create land banks provides that municipalities may transfer municipal property to a land bank in accordance with procedures determined by the municipality; and
WHEREAS, To better effectuate the Land Bank's mission, Chapter 16-700 should be amended to provide a procedure for the orderly and efficient transfer of City property to the Land Bank; now, therefore
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 16-700 of The Philadelphia Code is hereby amended to read as follows:
CHAPTER 16-700 PHILADELPHIA LAND BANK.
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§ 16-705. Acquisition.
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(7) Transfer of Title of City properties to the Land Bank.
(a) The Commissioner of Public Property is authorized to transfer title to any City property to the Philadelphia Redevelopment Authority for subsequent transfer by the Redevelopment Authority to the Land Bank in accordance with subsection (b).
(b) Disposition of any such property by the Philadelphia Redevelopment Authority to the Land Bank must be approved by City Council resolution.
(c) All properties transferred to the Philadelphia Redevelopment Authority pursuant to this Chapter shall be without consideration or City-imposed restrictions other than as set forth in this subsection 16-705(7).
SECTION 2. This Ordinance shall take effect immediately upon becoming law.
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