PASSED

Authorizing the Philadelphia Authority for Industrial Development ("PAID") to purchase a certain tract of land situate at 2114-60 North American Street, for a consideration not to exceed Three Hundred Fifty Thousand ($350,000.00), 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); and further authorizing PAID, notwithstanding any contrary requirements of the Philadelphia Industrial and Commercial Development Agreement, to convey such land for a nominal consideration to the Redevelopment Authority of the City of Philadelphia, or its nominee; all under certain terms and conditions.