Official:Authorizing the Philadelphia Authority for Industrial Development (PAID), notwithstanding any contrary requirements of the Philadelphia Industrial and Commercial Development Agreement between the City, the Philadelphia Industrial Development Corporation (PIDC), and the PAID, to convey fee simple title to a certain property containing approximately twenty-two acres located between Fiftieth and Fifty-second Streets south of Parkside Avenue, for a consideration of Four Hundred Thousand Dollars ($400,000), to the West Philadelphia Financial Services Institution, under certain terms and conditions.
Sponsor: Councilmember Nutter
Introduced: December 22, 2005
Signed: February 9, 2006
: Committee on Public Property and Public Works
Status: Signed into Law, step 4 of 4
This bill allows PAID to sell a 22-acre property in West Philadelphia for $400,000 to the West Philadelphia Financial Services Institution, despite requirements from a previous agreement.
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