PASSED

The enacted bill authorizes the Philadelphia Authority for Industrial Development to purchase about 20 acres on Summerdale Avenue between Foulkrod Street and Godfrey Avenue for up to $2.8 million, plus settlement and other related costs. The purchase is subject to an agreement among the City, PAID, and the Philadelphia Industrial Development Corporation, and the Industrial and Commercial Development Revolving Fund may pay the costs.

Authorizing the Philadelphia Authority for Industrial Development (PAID) to purchase approximately 20 acres on Summerdale Avenue between Foulkrod Street and Godfrey Avenue, under and subject to the Philadelphia Industrial and Commercial Development Agreement among the City, PAID, and the Philadelphia Industrial Development Corporation.