PASSED

This enacted ordinance authorizes the Philadelphia Authority for Industrial Development to purchase an 18.41-acre property at 3101 East Orthodox Street for up to $874,500, plus settlement and other related costs. The purchase will be made under the city’s industrial and commercial development agreement with PAID and PIDC, with costs charged to the Industrial and Commercial Development Revolving Fund.

Authorizing the Philadelphia Authority for Industrial Development ("PAID") to purchase a certain 18.41-acre tract of land situate at 3101 East Orthodox street, for a consideration not to exceed Eight Hundred Seventy-four Thousand Five Hundred Dollars ($874,500), under and subject to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, PAID, and Philadelphia Industrial Development Corporation (PIDC).