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BillENACTED

Bill 230858

Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into an amendment to a sublease with the Philadelphia Municipal Authority, for use by the City, of an additional portion of the premises located at 1327-29 Chestnut Street, Philadelphia, Pennsylvania, under certain terms and conditions.

Introduced Nov 16, 2023Committee on Public Property and Public WorksOfficial record: City of Philadelphia via Legistar

Introduced by

Councilmember SquillaCouncilmember Bass

How members voted

  1. Vote on Dec 14, 2023 · CITY COUNCIL

    Aye (15)

    Councilmember SquillaCouncilmember JohnsonCouncilmember JonesCouncil President ClarkeCouncilmember BassCouncilmember O'NeillCouncilmember BrooksCouncilmember GauthierCouncilmember Gilmore RichardsonCouncilmember ThomasCouncilmember DriscollCouncilmember LozadaCouncilmember HarrityCouncilmember VaughnCouncilmember Phillips

From the floor

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

  1. “…, Callowhill Street, and 13th Street, more commonly known as 411 through 19 North 13th Street"; and Bill No. 230858, entitled "An ordinance authorizing the Commissioner of Public Property to enter into an Stated Meeting 40 12/07/2023 with the Philadelphia Municipal Authority, for use by the City, of an additional portion of the premises located at 1327 through 29 Chestnut Street"; and Bill No. 230859, entitled "An or…”

    Chief Clerk · Stated Meeting, December 7, 2023 · Dec 7, 2023 · official transcript, this passage

Status timeline

  1. Nov 16, 2023
    Introduced and Referred · CITY COUNCIL

    This Bill was Introduced and Referred.to the Committee on Public Property and Public Works

  2. Dec 5, 2023
    HEARING NOTICES SENT · Committee on Public Property and Public Works

    This Bill was HEARING NOTICES SENT.

  3. Dec 5, 2023
    HEARING HELD · Committee on Public Property and Public Works

    This Bill was HEARING HELD.

  4. Dec 5, 2023
    REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Public Property and Public Works

    This Bill was REPORTED FAVORABLY, RULE SUSPENSION REQUESTED.

  5. Dec 7, 2023
    SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL

    This Bill was SUSPEND THE RULES OF THE COUNCIL.

  6. Dec 7, 2023
    ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL

    This Bill was ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR.

  7. Dec 14, 2023
    READ AND PASSED · CITY COUNCIL

    Recorded result: Pass

    A motion was made that this Bill be READ AND PASSED. The motion carried by the following vote:

  8. Dec 20, 2023
    SIGNED · MAYOR

    This Bill was SIGNED.

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 of Philadelphia, to enter into an amendment to a sublease with the Philadelphia Municipal Authority, for use by the City, of an additional portion of the premises located at 1327-29 Chestnut Street, Philadelphia, Pennsylvania, 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 a sublease agreement with the Philadelphia Municipal Authority, for use by the City, of an additional portion of the premises located at 1327-29 Chestnut 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 sublease amendment and other documents necessary to effectuate this Ordinance, which sublease 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 and to carry out the purpose of this Ordinance. EXHIBIT "A" Terms of Proposed Sublease Amendment For 1327-29 Chestnut Street, Philadelphia, PA 1. Landlord: Chestnut Street Realty Limited Partnership, LP 2. Tenant/Sublandlord: Philadelphia Municipal Authority 3. Subtenant: City of Philadelphia 4. Premises Address: 1327-29 Chestnut Street, Philadelphia, PA 5. Use of the Premises: Adding 26,585 rentable square feet, to be used for office space, to an existing sublease (the "Expansion Premises"). 6. Term of Sublease: The term for the Expansion Premises is effective upon execution with an expiration date of December 31, 2032, to coincide with the remaining term of the existing sublease. 7. Rent: The annual base rent for the Expansion Premises will be approximately $25.00 per rentable square foot until January 31, 2024, and will escalate at approximately One dollar ($1) per rentable square foot, per year, until January 31, 2026. At that time, the Expansion Premises base rent will be the same as the base rent in the existing Lease agreement, which is approximately $27.75 per rentable square foot with an annual escalation rate of approximately 2.7%. 8. Operating Expenses: The City shall be responsible for its proportionate share of operating expenses. 9. Tenant Improvements: Landlord shall provide a $531,700.00 tenant improvement allowance. 10. Rent Abatement: Landlord shall provide Tenant with nine months of rent abatement on the Expansion Premises at various intervals throughout the term. ..End