READ AND PASSED

The enacted ordinance authorizes the Commissioner of Public Property to transfer, for nominal consideration, some or all of four City-owned properties near South 34th and Ludlow Streets to the Philadelphia Authority for Industrial Development. The transfer must require an Economic Opportunity Plan, and the Authority must send the net proceeds from any later sale of the properties to the City's General Fund.

Authorizing the Commissioner of Public Property to convey to the Philadelphia Authority for Industrial Development all or any portion of those parcels of City-owned land at, or generally in the vicinity of, 16 South 34th Street, 18 South 34th Street, 3409-13 Ludlow Street and 3415-17 Ludlow Street, with buildings and improvements located thereon, if any, all under certain terms and conditions.