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 on the southwest corner of American and Somerset streets, 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 consideration of $100,000.00, under certain terms and conditions.
Sponsor: Councilmember Mariano
Introduced: October 3, 2002
Signed: November 21, 2002
: Committee on Public Property and Public Works
Status: Signed into Law, step 4 of 4
This bill allows the city to give a plot of land on American and Somerset streets to the Philadelphia Authority for Industrial Development (PAID) without charge, but with some conditions.
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