READ AND PASSED

The enacted bill authorizes the Commissioner of Public Property to enter into a sublease with The Philadelphia Municipal Authority so the City can use about 39,141 square feet at 1425 Arch Street. The proposed sublease would last 15 years, with one 10-year renewal option, and would set rent and operating-cost terms for the City.

Authorizing the Commissioner of Public Property, on behalf of the City, to enter into a sublease agreement with The Philadelphia Municipal Authority for use by the City of a portion of the premises located at 1425 Arch Street, all under certain terms and conditions.