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SIGNED
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This Bill was SIGNED.
Source: LegislationDetail.aspx · gridLegislation
Full Bill
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. The Commissioner of Public Property is hereby authorized to enter into a lease with Orthodox Street Properties, LLC as Landlord, with the City as Tenant, for use by the City, of all or a portion of the premises located at 3150 Orthodox Street, Philadelphia, Pennsylvania, 19137, pursuant to terms substantially set forth in
Exhibit “A”
.
SECTION 2. The City Solicitor is hereby authorized to review and to approve the lease and all 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 3150 Orthodox Street, Philadelphia, Pennsylvania, 19137
1.
Landlord: Orthodox Street Properties, LLC
2.
Tenant: City of Philadelphia
3.
Premises Address: 3150 Orthodox Street, Philadelphia, Pennsylvania, 19137
4.
Use of the Premises: Approximately 3.0 acres including an approximately 4,040 square foot steel constructed warehouse to be used for vehicle storage for the Transportation Unit of the Philadelphia Sheriff’s Office.
5.
Term of Lease: Five (5) years, provided, however, that the City in accordance with Section 8-200(3) of the Philadelphia Home Rule Charter, shall have the right to terminate the Lease, at the City’s sole option, at any time after the expiration of four (4) years without liability to the Landlord for damages or loss of profits that would have been realized had the lease not been terminated.
6.
Renewal Term: The City shall have five (5) two (2) year renewal options subject to Landlord’s consent.
7.
Rent: Base rent during Lease Year 1 will be $25,000.00 per month and shall escalate at a rate of approximately 2% per year over the five-year term. The total base rent for Lease Year 1 will be $300,000.00.
8.
Utilities: The City shall pay directly through the City’s own accounts or, if not billed directly, shall reimburse the cost of utilities paid on City’s behalf.
9.
Tenant Improvements: Landlord shall fit out the Premises based on a mutually accepted space plan.
End