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 American street and Montgomery 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, under certain terms and conditions.
Sponsor: Councilmember Mariano
Introduced: May 16, 2002
Signed: June 13, 2002
: Committee on Public Property and Public Works
Status: Signed into Law, step 4 of 4
This bill authorizes the City to transfer ownership of two tracts of land in North Philadelphia to PAID (Philadelphia Authority for Industrial Development) without cost. The transferred land is subject to certain conditions and agreements between the City, PAID, and the Philadelphia Industrial Development Corporation.
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