Official:Authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Authority for Industrial Development a deed conveying, for nominal consideration, fee simple title to certain tracts of City-owned land located at 2227-2251 Island Avenue and 7280-7282 Saybrook Avenue, with the buildings and improvements thereon, for further conveyance at fair market value.
Sponsor: Council President Verna
Introduced: April 28, 2005
Signed: June 16, 2005
: Committee on Public Property and Public Works
Status: Signed into Law, step 4 of 4
This bill authorizes the Commissioner of Public Property to transfer two city-owned parcels of land to the Philadelphia Authority for Industrial Development (PIDA) for a nominal fee, with PIDA agreeing to sell the property at fair market value and return any profits to the city's General Fund.
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