Locallow impact · 3/10substantive010127

City Gives 1021 Chestnut Street Lot to PAID Without Payment Under Existing Agreement

Official:Authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Authority for Industrial Development ("PAID"), without consideration, a deed conveying fee simple title to a certain tract of City-owned land with the buildings and improvements thereon, situate at 1021 Chestnut street, under and subject to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, the PAID, and the Philadelphia Industrial Development Corporation.

Sponsor: Councilmember DiCicco

Introduced: March 1, 2001

Signed: May 8, 2003

: Committee on Public Property and Public Works

businesscity asset transferland use

Plain-Language Summary

This bill authorizes the Commissioner of Public Property to give a City-owned lot at 1021 Chestnut street to PAID without paying anything for it. The transfer is subject to the terms and conditions of an existing agreement between the City, PAID, and PIDC.