Official:Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia (the "City") to enter into a Sublease Agreement (the "Sublease") by and between the City and the Philadelphia Authority for Industrial Development ("PAID") providing for the leasing by PAID to the City of a certain building known as the Tower Building; covenanting to make appropriations in each of the City's fiscal years to provide for rental payments due under the Sublease; authorizing the Director of Finance and other officials of the City to take all actions necessary to accomplish the intent and purpose of this Ordinance and the Sublease and other agreements; and authorizing approval of all of the terms of the agreements and other documents and amendments thereto by the Director of Finance and/or the City Solicitor.
Sponsor: Councilmember Savage
Introduced: May 24, 2007
Signed: June 14, 2007
: Committee on Public Property and Public Works
Status: Signed into Law, step 4 of 4
This bill authorizes the City of Philadelphia to enter into a sublease agreement with PAID for the Tower Building, making appropriations for rental payments, and allowing city officials to take necessary actions.
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