PASSED

This enacted ordinance authorizes the Commissioner of Public Property to transfer City-owned property at 214–32 Diamond Street, including its buildings and improvements, to the Philadelphia Authority for Industrial Development for a nominal payment. The property may then be conveyed at less than fair market value, and any net sale proceeds must go 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 certain tracts of City-owned land with buildings and improvements thereon, known as 214-32 Diamond Street located on the south side of Diamond Street in the City of Philadelphia, for further conveyance at less than fair market value.