PASSED

The enacted bill authorizes the Commissioner of Public Property to transfer, for a nominal payment, City-owned land and its buildings near 3061 Island Avenue 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 a deed conveying, for nominal consideration, fee simple title to a certain tract of City-owned land located in the vicinity of 3061 Island Avenue, with the buildings and improvements thereon, for further conveyance at fair market value.