City Hands Over Key Northwest Philly Lot to Economic Agency PAID Without Cost

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 situated at the northwest corner of Fifth and Huntingdon streets, subject generally to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement among the City, 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 and property to the Associacion de Musicos Latinos Americanos for a nominal consideration; all under certain terms and conditions.