This ordinance authorizes the Commissioner of Public Property to acquire fee title or a lesser real estate interest, including a multi-year lease, in a riverfront site bounded by State Road, the Pennypack Creek, the Delaware River, and former Hartel Avenue for future development. It further authorizes the City to enter into a lease or sublease agreement with the Philadelphia Authority for Industrial Development (PAID), execute an intergovernmental agreement for facility development, and take title to the completed facility from PAID under terms and conditions approved by the City Solicitor. The City Solicitor is empowered to negotiate, review, and approve all necessary leases, subleases, instruments, and documents to protect the City’s interests. By establishing these authorizations, the ordinance creates a clear administrative and legal framework to partner with PAID, streamline property acquisition and leasing, and ensure the seamless transfer of a new industrial or commercial facility. The site’s riverfront location offers strategic access to transportation corridors and water resources, while the partnership model leverages PAID’s development expertise and financing capabilities. These actions facilitate timely project delivery, minimize legal and financial risk, and secure long-term economic benefits for the City of Philadelphia.