READ AND PASSED

This enacted bill authorizes the City’s Commissioner of Public Property to enter into a sublease with the Philadelphia Municipal Authority for about 18,439 square feet of office space at 1 S. Broad Street. The sublease has a 15-year term, with one five-year renewal option; the City will pay base rent and its share of operating expenses, while the landlord will provide tenant improvements and the City will not be responsible for utilities.

Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into a sublease agreement with the Philadelphia Municipal Authority, for use by the City of a portion of the premises located at 1 S. Broad Street, Philadelphia, Pennsylvania, under certain terms and conditions.