Localmedium impact · 4/10substantive020312

City Gives Away Two Properties to PAID Without Cost Amid Ongoing Development Plans

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 two certain tracts of City-owned land with the buildings and improvements thereon, situate in the vicinity of Nineteenth street and Allegheny avenue, subject generally to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, the PAID, and the Philadelphia Industrial Development Corporation; and further authorizing PAID, notwithstanding any contrary requirements of the Philadelphia Industrial and Commercial Development Agreement, to convey such land for a nominal consideration; all under certain terms and conditions.

Sponsor: Councilmember Miller

Introduced: May 9, 2002

Signed: June 13, 2002

: Committee on Public Property and Public Works

city ownership economic development public finance

Plain-Language Summary

This bill authorizes the Commissioner of Public Property to give two city-owned parcels of land, with buildings and improvements, to the Philadelphia Authority for Industrial Development (PAID) without cost. The transfer is subject to the terms of a pre-existing agreement between the City, PAID, and the Philadelphia Industrial Development Corporation.