PASSED

This enacted bill authorizes the Philadelphia Authority for Industrial Development to transfer ownership of about 10.6 acres near Fifty-second and Jefferson Streets to the West Philadelphia Financial Services Institution, or its nominee, for a nominal payment. The transfer may proceed despite conflicting requirements in an agreement involving the City, PIDC, and PAID, and the City Solicitor may approve the documents and terms needed to complete it.

Authorizing the Philadelphia Authority for Industrial Development (PAID), notwithstanding any contrary requirements of the Philadelphia Industrial and Commercial Development Agreement between the City, the Philadelphia Industrial Development Corporation (PIDC), and the PAID, to convey fee simple title to a certain property located in the vicinity of Fifty-second street and Jefferson street, to the West Philadelphia Financial Services Institution, or its nominee, for nominal consideration, under certain terms and conditions.