PASSED

The enacted ordinance authorizes the Commissioner of Public Property to transfer, for a nominal payment, three adjacent parcels and their buildings at 105, 107, and 109 Reed Street to the Philadelphia Authority for Industrial Development. The Authority may then convey the property at fair market value, with the net sale proceeds deposited in the City’s General Fund.

Authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Authority for Industrial Development a deed for nominal consideration conveying fee simple title to three adjacent parcels, situate 105-09 Reed Street in the City of Philadelphia, with the buildings and improvements thereon, for further conveyance at fair market value.