PASSED

This enacted ordinance authorizes the Commissioner of Public Property to transfer the City’s title to a 6,811-square-foot portion of 250 Fountain Street, including its improvements, to the Philadelphia Authority for Industrial Development for a nominal payment. The authority is to 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 irregularly shaped portion of 250 Fountain Street, on the southwest corner of the intersection of Silverwood and Fountain Streets, with the improvements thereon, for further conveyance at fair market value.