Official:Authorizing the Philadelphia Authority for Industrial Development ("PAID") to purchase a certain tract of land situate at 2114-60 North American Street, for a consideration not to exceed Three Hundred Fifty Thousand ($350,000.00), under and subject to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, PAID, and Philadelphia Industrial Development Corporation (PIDC); and further authorizing PAID, notwithstanding any contrary requirements of the Philadelphia Industrial and Commercial Development Agreement, to convey such land for a nominal consideration to the Redevelopment Authority of the City of Philadelphia, or its nominee; all under certain terms and conditions.
Sponsor: Councilmember Mariano
Introduced: December 6, 2001
Signed: December 20, 2001
: Committee on Public Property and Public Works
Status: Signed into Law, step 4 of 4
This bill authorizes the Philadelphia Authority for Industrial Development (PAID) to buy a tract of land on North American Street for up to $350,000 and potentially sell it to the Redevelopment Authority at a low cost.
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