READ AND PASSED

The enacted bill authorizes Philadelphia’s Commissioner of Public Property to enter into a 25-year sublicense agreement with the Philadelphia Authority for Industrial Development (PAID). The agreement covers the City’s use of an approximately 16-foot-wide strip of PECO-owned land along the east side of the Schuylkill River, from near Nixon Street and Shawmont Avenue to the Montgomery County border, subject to specified terms and conditions.

Authorizing the Commissioner of Public Property to enter into a 25-year Sublicense Agreement with the Philadelphia Authority for Industrial Development ("PAID") for the use of a certain strip of land, owned by the PECO Energy Company and licensed to PAID, approximately 16 feet wide, beginning near the intersection of Nixon Street and Shawmont Avenue, continuing northwest along the east side of the Schuylkill River, and terminating at the Montgomery County border, under certain terms and conditions.