PASSED

The enacted bill requires the City and the Philadelphia Authority for Industrial Development (PAID) to enter into an agreement before City Council can approve certain PAID real estate transactions. Under the agreement, PAID must obtain City Council approval by resolution before acquiring property from a government agency other than the City; the same condition applies before City-owned property can be conveyed to PAID.

Requiring the Philadelphia Authority for Industrial Development to enter into a certain agreement with the City regarding Authority transactions involving non-City government agencies as a condition of Council approval of future Authority transactions under certain terms and conditions.