Official:Authorizing the Commissioner of Public Property, on behalf of the City, to enter into a sublease agreement with the Philadelphia Authority for Industrial Development for use by the City of premises located at 456 N. 5th Street, all under certain terms and conditions.
Sponsor: Councilmember Squilla
Introduced: September 29, 2016
Signed: October 27, 2016
: Committee on Public Property and Public Works
Status: Signed into Law, step 4 of 4
This bill allows the City of Philadelphia to lease a property at 456 N. 5th Street from the Philadelphia Authority for Industrial Development (PAID) for use by the Department of Public Property. The lease will last for 15 years and 6 months, with an initial term of 70,000-80,000 square feet for records management and city archives.
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