PASSED

This enacted bill authorizes Fairmount Park officials to lease the Northwestern Equestrian Facility in Fairmount Park to the Philadelphia Authority for Industrial Development. The Authority must then sublease the facility to Northwestern Stables Inc., which will occupy, operate, maintain, and manage it under the approved lease terms.

Authorizing the President of the Fairmount Park Commission and the Executive Director of Fairmount Park, on behalf of the City of Philadelphia, to enter into a Master Lease providing for the lease by the City to the Philadelphia Authority for Industrial Development of the Northwestern Equestrian Facility in Fairmount Park, under which PAID will be required to enter into an agreement pursuant to which PAID will sublease the property to the Northwestern Stables Inc., for the occupation, operation, maintenance and management of the Facility, all under certain provisions.