PASSED

This enacted ordinance authorizes the Commissioner of Public Property to transfer, without payment, City-owned land and its buildings at 3033–63 East Ontario Street to the Philadelphia Authority for Industrial Development. The transfer is subject to the Philadelphia Industrial and Commercial Development Agreement involving the City, PAID, and the Philadelphia Industrial Development Corporation; any proceeds from the sale of these properties are to go to the City's General Fund.

Authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Authority for Industrial Development ("PAID"), without consideration, a deed conveying fee simple title to a certain tract of City-owned land with the buildings and improvements thereon, situate at 3033-63 East Ontario Street, generally under and subject to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, the PAID, and the Philadelphia Industrial Development Corporation.