Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to convey to the Philadelphia Housing Authority, all or part of a parcel or parcels of land containing approximately 23,595 square feet, located in and about the area bounded by Market Street, 39th Street, Ludlow Street and 40th Street, under certain terms and conditions.

Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia , to convey to the Philadelphia Housing Authority , all or part of a parcel or parcels of land containing approximately 23,595 square feet, located in and about the area bounded by Market Street, 39th Street, Ludlow Street and 40th Street, under certain terms and conditions. WHEREAS, The City entered into a settlement agreement (the “Settlement Agreement”) with I.B.I.D. Associates Limited Partnership (“IBID”) dated March 17, 2023, regarding the multi-family property owned by IBID and located at 3900-3960 Market Street, Philadelphia, Pennsylvania (the “IBID Property”); and WHEREAS, Pursuant to the Settlement Agreement, IBID agreed to subdivide a parcel of land located in and about the area bounded by Market Street, 39th Street, Ludlow Street and 40th Street, as more particularly described in Exhibit A, attached hereto, (the “Parcel”) from the IBID Property and convey the Parcel to the City to support affordable housing development under a provision of the /MIN Overlay established pursuant to Section 14-533 of The Philadelphia Code; and WHEREAS, Pursuant to the Settlement Agreement, Bill No. 230323 (approved June 21, 2023) established a mechanism for satisfaction of the affordable housing development requirements in the /MIN Overlay applicable to the IBID Property through subdivision of the Parcel and conveyance of the Parcel to the City for further development; and WHEREAS, Pursuant to Bill …