PASSED

This enacted bill authorizes the Philadelphia Authority for Industrial Development to transfer ownership of about 15 acres near Sixty-first Street and Eastwick Avenue to the Philadelphia Regional Port Authority. The transfer is for $150,000 and may proceed despite contrary requirements in an existing development agreement involving the City, PAID, and the Philadelphia Industrial Development Corporation.

Authorizing the Philadelphia Authority for Industrial Development, notwithstanding any contrary requirements of the Philadelphia Industrial and Commercial Development Agreement between the City, the Philadelphia Industrial Development Corporation and PAID, to convey fee simple title to a certain property located in the vicinity of Sixty-first Street and Eastwick Avenue to the Philadelphia Regional Port Authority, for a total consideration of One Hundred Fifty Thousand Dollars ($150,000.00), under certain terms and conditions.