PASSED

This enacted ordinance authorizes the City’s Public Property Commissioner to transfer the City’s interest in the land and buildings at 1043-47 North Front Street to the Philadelphia Authority for Industrial Development for a nominal payment. The authority may then transfer the property at fair market value, with net sale proceeds deposited in the City’s General Fund.

Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to convey the City's interest in certain tracts of land with the buildings and improvements thereon known as 1043-47 North Front Street, located on the east side of North Front Street, to the Philadelphia Authority for Industrial Development for nominal consideration, for further conveyance at fair market value.