READ AND PASSED

This enacted ordinance authorizes the Philadelphia Authority for Industrial Development to purchase the approximately two-acre property at 9470 Ashton Road for up to $250,000, excluding settlement and other incidental costs. The purchase must follow the Philadelphia Industrial and Commercial Development Agreement, with the costs paid from the Industrial and Commercial Development Revolving Fund and related documents reviewed by the City Solicitor.

Authorizing the Philadelphia Authority for Industrial Development ("PAID") to purchase a certain tract of land with the improvements thereon situate at 9470 Ashton Road, under and subject to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement among the City, PAID, and the Philadelphia Industrial Development Corporation, all under certain terms and conditions.