READ AND PASSED

The enacted bill authorizes the Philadelphia Authority for Industrial Development (PAID) to purchase about 2.7 acres at 5210 Lindbergh Boulevard for up to $350,000, plus settlement and other incidental costs. The purchase will be paid from the Industrial and Commercial Development Revolving Fund and must include a commitment for an Economic Opportunity Plan.

Authorizing the Philadelphia Authority for Industrial Development (PAID) to purchase approximately Two and Seven-Tenths (2.7) acres of land situate at 5210 Lindbergh Boulevard, under and subject to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, PAID, and the Philadelphia Industrial Development Corporation (PIDC).