PASSED

The enacted bill authorizes the City’s Public Property Commissioner to transfer, at no cost, ownership of the City-owned property at 815 Spring Garden Street—including its buildings and improvements—to the Philadelphia Authority for Industrial Development. The transfer is subject to the terms of an industrial and commercial development agreement involving the City, PAID, and the Philadelphia Industrial Development Corporation.

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 815 Spring Garden 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.