READ AND PASSED

The enacted ordinance authorizes the Commissioner of Public Property, on behalf of Philadelphia, to enter into a lease with 2401 Walnut LP for about 15,895 square feet of office space in Suites 501 and 502 at 2401 Walnut Street. The proposed lease would run for 10 years, include one five-year renewal option, and allow the City to end it after four years under the stated terms; the City would pay rent, utilities, and its share of operating expenses.

Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into a lease agreement with 2401 Walnut LP, for use by the City of a portion of the premises located at 2401 Walnut Street, Philadelphia, Pennsylvania, under certain terms and conditions.