Transmitting an Ordinance amending Chapter 16-700 of The Philadelphia Code, entitled "Philadelphia Land Bank," to allow interested parties to require open bidding when the Land Bank seeks to exercise special authority to acquire property at a Sheriff's sale and allow prior owners to redeem property when such special authority is exercised, all under certain terms and conditions.

AI summary

This communication transmits a proposed ordinance that would amend Philadelphia’s Land Bank rules. The proposal would allow interested parties to require open bidding when the Land Bank seeks to use special authority to acquire property at a Sheriff’s sale, and would allow former owners to redeem the property under certain terms and conditions. The item was placed on file and does not itself enact these changes.