City Clears Way for Nonprofit Partnership to Bring Cancer Research Facilities to Fox Chase Campus Area

Official:Authorizing the President of the Fairmount Park Commission, the Executive Director of Fairmount Park, and the Public Property Commissioner, on behalf of the City of Philadelphia, to enter into a lease with the Philadelphia Authority for Industrial Development ("PAID"), to lease City-owned land south of Shelmire Avenue adjacent to the campus of the Fox Chase Cancer Center, Inc. ("Fox Chase") to PAID, under which PAID will enter into a sublease with the Fairmount Park Conservancy ("Conservancy"), a Pennsylvania nonprofit corporation, under which the Conservancy would enter into a sub-sublease and other agreements with Fox Chase, pursuant to which Fox Chase will construct, maintain, and operate cancer research and treatment facilities on the property; and authorizing the President of the Fairmount Park Commission, the Executive Director of Fairmount Park, the Public Property Commissioner, and the City Solicitor to enter into additional agreements and take all other actions necessary to complete the transaction contemplated by this Ordinance; all under certain provisions.