PASSED

The enacted ordinance authorizes the Commissioner of Public Property to transfer City-owned properties at 234 Diamond Street and 2052-64 North Philip Street to the Philadelphia Authority for Industrial Development for a nominal payment. The authority may then convey the properties for 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 234 Diamond Street and 2052-64 North Philip Street located on the west side of North Philip Street in the City of Philadelphia, for further conveyance at less than fair market value.