PASSED

This enacted ordinance authorized Philadelphia officials to amend leases with the Philadelphia Authority for Industrial Development for the arena and nearby development parcels, end the lease for the North Lot, and approve related lease changes involving the Spectrum and sports facilities. It also authorized the City to approve a parking operations agreement involving PAID, the arena operators, the Phillies, and the Eagles for coordinated operation of parking lots in the sports complex.

Authorizing the Commissioner of Public Property, the Director of Commerce and the Recreation Commissioner, on behalf of The City of Philadelphia (the "City"), to execute and deliver a First Amendment to Lease Agreement (the "First Amendment - City Lease") by and between the City and Philadelphia Authority for Industrial Development ("PAID") with respect to that certain Lease Agreement dated July 12, 1994 by and between the City and PAID concerning certain premises lying between Broad street and Eleventh street north of the right-of-way of Interstate 95 (the "Arena Premises"); to execute and deliver a Second Amendment to City - PAID Development Parcel Lease (the "Second Amendment - Development Lease") by and between the City and PAID with respect to that certain Lease Agreement dated July 11, 1991 by and between the City and PAID concerning certain lands described therein (the "Development Parcel"), as amended; and to execute and deliver an agreement (the "North Lot Lease Termination Ag...