PASSED

This enacted bill authorizes the Commissioner of Public Property to transfer the City-owned property at 8011 Frankford Avenue, including its buildings and improvements, to the Philadelphia Authority for Industrial Development for a nominal amount. The authority may then convey the property at fair market value, with the net sale proceeds going 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 with buildings and improvements thereon, situate 8011 Frankford Avenue in the City of Philadelphia, for further conveyance at fair market value.