Official:Authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Authority for Industrial Development a deed for nominal consideration conveying fee simple title to four adjacent parcels, situate 1015-21 Mount Vernon Street in the City of Philadelphia, with the buildings and improvements thereon, for further conveyance at fair market value.
Sponsor: Councilmember Clarke
Introduced: November 16, 2006
Signed: December 7, 2006
: Committee on Public Property and Public Works
Status: Signed into Law, step 4 of 4
This bill allows the City of Philadelphia to transfer ownership of four adjacent parcels on Mount Vernon Street in South Philly to the Philadelphia Authority for Industrial Development (PIDA) for nominal consideration. The city will then sell these properties at fair market value and deposit the proceeds into the General Fund.
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