PASSED

The enacted ordinance authorizes the Commissioner of Public Property to transfer, for a nominal price, two City-owned parcels and their buildings near East Tioga Street, North Delaware Avenue, and I-95 to the Philadelphia Authority for Industrial Development. The authority may then convey the properties at fair market value, and the net proceeds must go to the City’s General Fund.

Authorizing the Commissioner of Public Property on behalf of the City of Philadelphia to execute and deliver to the Philadelphia Authority for Industrial Development, for nominal consideration, a deed conveying fee simple title to certain parcels of land, with the buildings and improvements thereon, located on the southwest side of East Tioga Street between North Delaware Avenue and I-95, for further conveyance at fair market value, all under certain terms and conditions.