Amending Bill No. 241031 (approved January 15, 2025), entitled "Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into a sublease agreement with the Philadelphia Municipal Authority, for use by the City of a portion of the premises located at 1 S. Broad Street, Philadelphia, Pennsylvania, under certain terms and conditions," to authorize the lease of additional space within the premises, under certain terms and conditions.

Amending Bill No. 241031 (approved January 15, 2025), entitled “Authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into a sublease agreement with the Philadelphia Municipal Authority, for use by the City of a portion of the premises located at 1 S. Broad Street, Philadelphia, Pennsylvania, under certain terms and conditions,” to authorize the lease of additional space within the premises, under certain terms and conditions. THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: Section 1. Exhibit “A” to Bill No. 241031 (approved January 15, 2025), entitled “Terms of Proposed Sublease For 1 S. Broad Street, Philadelphia, Pennsylvania, 19107” is hereby amended as set forth in the attached version of Exhibit A (additions to the Bill in Bold ; deletions in Strikethrough ): EXHIBIT “A” Terms of Proposed Sublease For 1 S. Broad Street, Philadelphia, Pennsylvania, 19107 1. Landlord: Broad One L.P. CBRE, Inc. 2. Tenant/Sublandlord: Philadelphia Municipal Authority 3. Subtenant: City of Philadelphia 4. Premises Address: 1 S. Broad Street, Philadelphia, Pennsylvania, 19107 5. Use of the Premises: Approximately 18,439 30,894 rentable square feet for office use. use, consisting of 18,439 square feet on the 3 rd floor and an additional 12,455 square feet on the 7 th floor. 6. Term of Lease: Fifteen (15) years 7. Renewal Term: The City shall have one (1) five (5) year renewal option. 8. Rent: Base rent for Lease Year 1 will be $15.75 per squar…