Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into a lease agreement with the New Market and Headhouse Conservancy for use of all or a portion of the City-owned premises, commonly known as the Headhouse and Shambles in Headhouse Square, located along 2nd Street between Pine and Lombard Streets in Philadelphia, Pennsylvania, for the public benefit, 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 enter into an agreement with the New Market and Headhouse Conservancy for use by Conservancy of all or a portion of the City-owned premises, commonly known as the Headhouse and Shambles in Headhouse Square, located along 2nd Street between Pine and Lombard Streets in Philadelphia, Pennsylvania, under which the Conservancy will restore, maintain, and operate the premises for the public benefit subject to certain terms and conditions set forth in Exhibit A.

SECTION 2. The Commissioner of Public Property is hereby authorized to take all actions deemed by the Commissioner to be necessary and appropriate to carry out the provisions and intent of this Ordinance, including executing all instruments and ancillary documents necessary and appropriate for the City to carry out the purposes of this Ordinance.

SECTION 3. The City Solicitor is hereby authorized to review and approve the agreement and all instruments and documents necessary and helpful to effectuate this Ordinance, and to include in those documents all provisions the City Solicitor deems necessary and proper to protect the interests of the City to carry out the purpose of this Ordinance.

EXHIBIT “A”

Terms of Proposed Lease

For Headhouse and Shambles, Philadelphia, Pennsylvania

1.

Landlord:

City of Philadelphia through its Department of Public Property (“City”)

2.

Tenant

: The New Market and Head House Conservancy (“the Conservancy”)

3.

Premises:

The premises commonly known as Headhouse and Shambles located along 2nd Street between Pine and Lombard Streets in Philadelphia, Pennsylvania.

4.

Use of the Premises:

Maintain, restore and preserve the historic structures known as the Headhouse and the Shambles and to use the office and meeting space for Tenant’s operations and to schedule and manage public or private special events, festivals, promotion initiatives, or any use authorized under the lease.

5.

Term of Lease:

Initial Term of ten (10) years.

6.

Renewal Term:

City has the options to renew for two (2) successive five (5)-year terms.

7.

Rent:

. Base rent is $1 for each lease year of the Initial Term and the Renewal Terms, if exercised.

8.

Utilities:

City will be responsible for all utility costs

.

9.

Maintenance Expenses:

The Conservancy is responsible for all maintenance expenses.

End