READ AND PASSED

This enacted bill authorizes Philadelphia to lease certain Fairmount Park land and facilities, recreation centers, playgrounds, and Free Library branches to the Philadelphia Authority for Industrial Development (PAID) on a project-by-project basis. PAID may then sublease those facilities to charitable organizations for capital repairs, renovations, and improvements, subject to the stated terms and legal requirements.

Authorizing the City of Philadelphia to enter into lease agreements with the Philadelphia Authority for Industrial Development under which the City would lease to PAID on a project-by-project basis certain land and facilities in the Fairmount Park system, recreation centers, playgrounds and branches in the Free Library of Philadelphia system, and which would permit PAID to sublease such Facilities on a project-by-project basis to other organizations in conformity with the Economic Development Financing Law, Act 1967-102 (P.L. 251), as amended, all under certain terms and conditions.