civus
BillENACTED

Bill 170991

Authorizing the Commissioner of Public Property, on behalf of the City, to enter into a lease agreement with EB Realty Management, for use by the City of all or a portion of the premises located at 667 North Broad Street, under certain terms and conditions.

Introduced Nov 16, 2017Committee on Public Property and Public WorksOfficial record: City of Philadelphia via Legistar

Introduced by

Council President ClarkeCouncilmember Greenlee

From the floor

Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.

  1. “… possessing certain symbols, materials, and objects in City-owned or City-occupied facilities"; and Bill No. 170991, entitled "An ordinance authorizing the Commissioner of Public Property to enter into a lease agreement with EB Realty Management, for use by the City of all or a portion of the premises located at 667 North Broad Street"; and Bill No. 170994, entitled "An ordinance authorizing the Commissioner of Publi…”

    Chief Clerk · Stated Meeting, December 14, 2017 · Dec 14, 2017 · official transcript, this passage

  2. “… possessing certain symbols, materials, and objects in City-owned or City-occupied facilities"; and Bill No. 170991, entitled "An ordinance authorizing the Commissioner of Public Property to enter into a lease agreement with EB Realty Management, for use by the City of all or a portion of the premises located at 667 North Broad Street"; and Bill No. 170994, entitled "An ordinance authorizing the Commissioner of Publi…”

    Chief Clerk · Stated Meeting, December 7, 2017 · Dec 7, 2017 · official transcript, this passage

Status timeline

  1. Nov 16, 2017
    Introduced and Referred · CITY COUNCIL

    Recorded result: Pass

    A motion was made by Councilmember Greenlee that this matter be Introduced and Referred to the Committee on Public Property and Public Works. The motion carried unanimously.

  2. Dec 6, 2017
    HEARING NOTICES SENT · Committee on Public Property and Public Works
  3. Dec 6, 2017
    HEARING HELD · Committee on Public Property and Public Works
  4. Dec 6, 2017
    REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Public Property and Public Works
  5. Dec 7, 2017
    ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
  6. Dec 7, 2017
    SUSPEND 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.

  7. Dec 7, 2017
    READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR · CITY COUNCIL
  8. Dec 14, 2017
    READ 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:

  9. Jan 3, 2018
    SIGNED · 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, on behalf of the City, to enter into a lease agreement with EB Realty Management, for use by the City of all or a portion of the premises located at 667 North Broad 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, is hereby authorized to enter into a lease agreement with EB Realty Management with City as tenant, for use by the City, of all or a portion of the premises located at 667 North Broad Street, Philadelphia, Pennsylvania, 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 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 667 North Broad Street, Philadelphia, PA 1. Landlord: EB Realty Management 2. Tenant: The City of Philadelphia 3. Premises Address: 667 North Broad, Philadelphia, PA 4. Use of the Premises: Approximately 17,200 square feet, to be used for office space. 5. Term of Lease: 15 years; provided, however, the City (in accordance with Section 8-200(3) of the Philadelphia Charter) shall have right to terminate the Lease, at the City's sole option, at any time after the expiration of four years without liability to the Landlord for damage or loss of profits which would have been realized had the Lease not been terminated. 6. Renewal Terms: Tenant shall have two (2) five (5) year renewal options. 7. Rent: The annual base rent will be approximately $20.58 per square foot for the first year with approximately 10% escalations every 5 years. The first year's annual base rent will be approximately $353,976.00. 8. Operating Expenses: The City shall be responsible for its share of common area costs. ..End