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 enter into a lease agreement with Ujima Community Transformation Partners, LLC, with City as tenant, for use by the City, of all or a portion of the premises located at 6750 Lindbergh Boulevard, Philadelphia, Pennsylvania, pursuant to terms substantially set forth in the document attached hereto as Exhibit "A".
SECTION 2. The City Solicitor is hereby authorized to review and to approve the lease and other documents necessary to effectuate this Ordinance, which lease and documents shall contain such terms and conditions as the City Solicitor shall deem necessary and proper to protect the interests of the City of Philadelphia and to carry out the purpose of this Ordinance.
EXHIBIT "A"
Terms of Proposed Lease
For 6750 Lindbergh Boulevard, Philadelphia, PA
1.
Landlord:
Ujima Community Transformation Partners, LLC
2.
Tenant:
The City of Philadelphia
3.
Premises Address:
6750 Lindbergh Boulevard, Philadelphia, PA
4.
Use of the Premises:
Approximately 15,500 square feet, to be used for the Office of Innovation and Technology’s Communications and Radio Operations Center.
5.
Term of Lease
: 10 years; provided, however, the City (in accordance with Section 8-200(3) of the Philadelphia Charter) shall have right to terminate the Lease, at the City’s sole option, at any time after the expiration of four years without liability to the Landlord for damage or loss of profits which would have been realized had the Lease not been terminated.
6.
Renewal Terms:
Tenant shall have three (3) five (5) year renewal options.
7.
Purchase Option:
At any point in the lease following the seventh anniversary of the Rent Commencement Date, Tenant shall have the right to purchase the Premises at fair market value as determined by appraisal but in no event less than an agreed upon floor price.
8.
Rent:
The annual base rent will be approximately $11.29 per square foot for the first year with approximately 10% escalations every five years. The first year’s annual base rent will be approximately $175,000.00.
9.
Operating Expenses:
The City shall be responsible for all maintenance, real estate taxes, utility charges and trash removal costs for the Premises.
End