PASSED

The enacted bill authorizes the Commissioner of Public Property to transfer full ownership of the City-owned properties at 1113–1125 North 3rd Street, including the buildings on them, to the Philadelphia Authority for Industrial Development for a nominal payment. The authority may then convey the properties at fair market value, with the net proceeds returned to the City's General Fund.

Authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Authority for Industrial Development a deed conveying, for nominal consideration, fee simple title to certain tracts of City-owned land located at 1113-1125 North 3rd Street, with the improvements thereon, for further conveyance at fair market value.