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BillENACTED

Bill 171011

Authorizing the Commissioner of Public Property, on behalf of the City, to enter into an amendment to an existing lease agreement with the Southeastern Pennsylvania Transportation Authority, for use by the City of all or a portion of the premises located at 1234 Market Street, under certain terms and conditions.

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

Introduced by

Councilmember Squilla

From the floor

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

  1. “…B, for use by the City of all or a portion of the premises located at 1930 South Broad Street"; and Bill No. 171011, entitled "An ordinance authorizing the Commissioner of Public Property to enter into an amendment to an existing lease agreement with the Southeastern Pennsylvania Transportation Authority, for use by the City of all or a portion of the premises located at 1234 Market Street"; and Bill No. 171015, enti…”

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

  2. “…B, for use by the City of all or a portion of the premises located at 1930 South Broad Street"; and Bill No. 171011, entitled "An ordinance authorizing the Commissioner of Public Property to enter into an amendment to an existing lease agreement with the Southeastern Pennsylvania Transportation Authority, for use by the City of all or a portion of the premises located at 1234 Market Street"; and Stated Meeting Decemb…”

    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 Squilla 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
    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.

  6. Dec 7, 2017
    ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
  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 an amendment to an existing lease agreement with the Southeastern Pennsylvania Transportation Authority, for use by the City of all or a portion of the premises located 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, is hereby authorized to enter into an amendment to an existing lease agreement with the Southeastern Pennsylvania Transportation Authority, with City as tenant, for use by the City, of all or a portion of the premises located at 1234 Market 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 amendment and other documents necessary to effectuate this Ordinance, which lease amendment 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 Amendment 1234 Market Street, Philadelphia, PA 1. Landlord: Southeastern Pennsylvania Transportation Authority ("SEPTA"). 2. Tenant: The City of Philadelphia 3. Premises Address: 1234 Market Street, Philadelphia, PA 4. Use of the Premises: Approximately 12,387 square feet, to be used for office space. 5. Term of Amendment: To be conterminous with the City's existing lease expiration date of June 30, 2024. Based on a February 1, 2018 commencement date, the term will be six (6) years, five (5) months. 6. Renewal Terms: Tenant shall have one (1) five (5) year renewal option. 7. Rent: The annual base rent will be approximately $22.50 per square foot for the first year with approximately $.50 per square foot per year escalations on an annual basis. 8. Operating Expenses: The City shall be responsible for its proportionate share of operating expenses over a 2018 Base Year.