PASSED

The enacted bill authorizes the Philadelphia Authority for Industrial Development to purchase, on behalf of the City, a 16-acre property at 9450 Ashton Road for up to $900,000, plus settlement and other related costs. The purchase would be carried out under the City’s industrial and commercial development agreement with PAID and PIDC, with costs paid from the Industrial and Commercial Development Revolving Fund.

Authorizing the Philadelphia Authority for Industrial Development ("PAID"), on behalf of the City, to purchase a certain sixteen (16.0) acre tract of land situate at 9450 Ashton Road, for a consideration not to exceed Nine Hundred Thousand Dollars ($900,000), under and subject to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, PAID, and the Philadelphia Industrial Development Corporation (PIDC).