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 400 N. Broad Street and 1501 Callowhill Street, and to exercise an option for the City to purchase the same, all under certain terms and conditions.
Sponsor: Council President Clarke
Introduced: May 25, 2017
Signed: June 22, 2017
: Committee on Public Property and Public Works
Status: Signed into Law, step 4 of 4
This bill allows the City to enter into a sublease agreement with a development authority for two properties (400 N. Broad Street and 1501 Callowhill Street) and gives the City an option to purchase them. The City must make payments under this lease starting in Fiscal Year 2018.
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