READ AND PASSED

The enacted bill authorizes Philadelphia’s Commissioner of Public Property to amend the City’s sublease with the Philadelphia Authority for Industrial Development for space at 1101 Market Street. The amendment adds about 20,642 rentable square feet for City office use, extends the sublease through August 31, 2034, and sets annual base rent increases during the two-year extension, with the City also responsible for its share of operating expenses.

Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into an amendment to a sublease with the Philadelphia Authority for Industrial Development, for use by the City, of all or a portion of the premises located at 1101 Market Street, Philadelphia, Pennsylvania, under certain terms and conditions.