PASSED

This enacted ordinance authorizes the Commissioner of Public Property and the Director of Commerce to convey all or part of about 98 acres of City-owned property near Red Lion Road and The Roosevelt Boulevard to the Philadelphia Authority for Industrial Development. The conveyance is subject to an agreement among the City, the authority, and the Philadelphia Industrial Development Corporation, and any net proceeds must go into the Aviation Fund.

Authorizing the Commissioner of Public Property and the Director of Commerce, on behalf of the City of Philadelphia, to convey to the Philadelphia Authority for Industrial Development ("PAID"), from time to time, all or any portion of certain City-owned real estate in the vicinity of Red Lion road and The Roosevelt boulevard, under certain terms and conditions subject to the Philadelphia Industrial and Commercial Development Agreement among the City, PAID, and the Philadelphia Industrial Development Corporation.