Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to convey to the Philadelphia Authority for Industrial Development, all or part of a parcel of land located in the area bounded by Buttonwood Street, North 10th Street, Hamilton Street, Ridge Avenue and North 11th 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), all or part of a parcel of land located in the area bounded by Buttonwood Street, North 10th Street, Hamilton Street, Ridge Avenue and North 11th Street, as more particularly identified in Exhibit "A", for further conveyance, under certain terms and conditions.

SECTION 2. Conveyance of the property to PAID shall be conditioned upon a commitment by PAID to require an Economic Opportunity Plan in accordance with Section 17-1602 of The Philadelphia Code, as amended.

SECTION 3. The City Solicitor is authorized to impose such terms and conditions on the transaction authorized by this Ordinance as the City Solicitor deems necessary and proper to protect the interests of the City and to carry out the purposes of this Ordinance.

Exhibit "A"

End