PASSED

The enacted ordinance authorizes the Commissioner of Public Property to transfer, for nominal consideration, a City-owned tract with buildings and improvements near University Avenue, Guardian Drive, and Curie Boulevard to the Philadelphia Authority for Industrial Development. The Authority may then convey the property 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, for nominal consideration, a deed conveying fee simple title to a certain tract of City-owned land situate in an area generally located on the east side of University Avenue between Guardian Drive and Curie Boulevard, with the buildings and improvements thereon, for further conveyance at fair market value.