Bill 140384
Authorizing the Commissioner of Public Property to enter into a lease agreement with the Southeastern Pennsylvania Transportation Authority as landlord and the City of Philadelphia as tenant for office space at 1234 Market Street, under certain terms and conditions.
Introduced by
From the floor
Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.
“…a parcel of land, with any improvements thereon, located at 1823 through 35 Callowhill Street"; and Bill No. 140384, entitled "An ordinance authorizing the Commissioner of Public Property to enter into a lease agreement with the Southeastern Pennsylvania Transportation Authority as landlord and the City of Philadelphia as tenant for office space at 1234 Market Street"; and Bill No. 140385, entitled "An ordinance auth…”
Chief Clerk · Stated Meeting, June 12, 2014 · Jun 12, 2014 · official transcript, this passage
“…d, with any improvements thereon, located a 1823-35 Callowhill Street, for further conveyance"; and Bill No. 140384, entitled "An ordinance authorizing the Commissioner of Public Property to enter into a lease agreement with the Southeastern Pennsylvania Transportation Authority, as landlord, and the City of Philadelphia, as tenant, for office space at 1234 Market Street"; and Bill No. 140385, entitled "An ordinance …”
Chief Clerk · Stated Meeting, June 5, 2014 · Jun 5, 2014 · official transcript, this passage
Status timeline
- May 1, 2014Introduced and Referred · CITY COUNCIL
Recorded result: Pass
A motion was made by Councilmember Squilla that this matter be Introduced and Referred to the Committee on Public Property and Public Works. The motion carried unanimously.
- Jun 4, 2014HEARING NOTICES SENT · Committee on Public Property and Public Works
- Jun 4, 2014HEARING HELD · Committee on Public Property and Public Works
- Jun 4, 2014REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Public Property and Public Works
- Jun 5, 2014ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
- Jun 5, 2014SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
Recorded result: Pass
A motion was made by Councilmember Henon that this matter be SUSPEND THE RULES OF THE COUNCIL. The motion carried unanimously.
- Jun 5, 2014ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR · CITY COUNCIL
- Jun 12, 2014READ AND PASSED · CITY COUNCIL
Recorded result: Pass
A motion was made that this matter be READ AND PASSED. The motion carried by the following vote:
- Jun 19, 2014SIGNED · MAYOR
Official documents
Documents open on the City of Philadelphia’s legislative site.
Full text
Read the full text as published
..Title Authorizing the Commissioner of Public Property to enter into a lease agreement with the Southeastern Pennsylvania Transportation Authority as landlord and the City of Philadelphia as tenant for office space at 1234 Market Street, under certain terms and conditions. ..Body THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. The Commissioner of Public Property, on behalf of the City of Philadelphia, as tenant, is hereby authorized to enter into a lease agreement with the Southeastern Pennsylvania Transportation Authority ("SEPTA"), as landlord, for use as office space by the City of a portion of the premises located at 1234 Market Street, pursuant to terms substantially set forth in the document attached hereto as Exhibit "A." SECTION 2. The City Solicitor is hereby authorized to review and to approve the lease and other documents necessary to effectuate this Ordinance, which lease and other documents shall contain such terms and conditions as the City Solicitor shall deem necessary and proper to protect the interests of the City of Philadelphia and to carry out the purpose of this Ordinance. EXHIBIT "A" Terms of Proposed Lease for 1234 Market Street, Philadelphia, PA 1. Landlord: Southeastern Pennsylvania Transportation Authority ("SEPTA"). 2. Tenant: City of Philadelphia ("City"). 3. Premises Address: 1234 Market Street, Philadelphia, PA. 4. Use of the Premises: Approximately 42,532 rentable square feet, to be used for office space. 5. Term: 10 years. 6. Base Rent Payable by City to SEPTA: The annual base rent will be $19.50 per rentable square foot and will escalate at a rate of $.50 per rentable square foot per year. At 42,532 rentable square feet, the first year's annual base rent will be $829,374. 7. Operating Expenses: Beginning in 2015, the Tenant shall be responsible for its proportionate share of operating expenses in excess of the 2014 base year operating expenses. 8. Tenant improvement allowance: Landlord shall provide a tenant improvement allowance of $10.00 per rentable square foot. Any unused portion of the Tenant improvement allowance shall be allocated as a rent credit. Landlord shall also provide an allowance of $10.00 per rentable square foot to upgrade the HVAC system serving Premises. ..End