PASSED

The enacted bill authorizes the City’s Commissioner of Public Property to transfer ownership of the City-owned property at 5928-30 Germantown Avenue, including its buildings and improvements, to the Philadelphia Authority for Industrial Development for a nominal payment. The authority is to convey the property again at fair market value, with the net proceeds deposited into 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 with buildings and improvements thereon, situate 5928-30 Germantown Avenue in the City of Philadelphia, for further conveyance at fair market value.