PASSED

This enacted ordinance authorizes the City’s Commissioner of Public Property to lease or transfer, for nominal consideration, about 5.8 acres of city-owned land and its buildings in the area bounded by Penrose Ferry Road, Hog Island Road, and I-95 to the Philadelphia Authority for Industrial Development. The authority may then lease or transfer the property, and any net proceeds from a sale or lease would go to the City’s General Fund.

Authorizing the Commissioner of Public Property on behalf of the City of Philadelphia to lease or convey to the Philadelphia Authority for Industrial Development, for nominal consideration, all or part of a certain triangular parcel of land with the buildings and improvements thereon situate in an area generally bounded by Penrose Ferry Road to the north, Hog Island Road to the east, and I-95 to the southwest, under certain terms and conditions.