Section 1. Authorization for release of restriction in Philadelphia County.
(a) Authorization.--The Department of General Services, with the approval of the Governor, is authorized on behalf of the Commonwealth of Pennsylvania to release a use restriction and associated reversionary interest affecting certain real property previously conveyed to 900 North Broad Street Corporation by the Commonwealth of Pennsylvania under section 8 of Act 96, on the terms, conditions and for the consideration as is acceptable to the Secretary of General Services. The use restriction and associated reversionary interest to be released is specifically set forth under section 8(c) of Act 96.
(b) Property description.--The use restriction and associated reversionary interest referenced under subsection (a) affects a tract of land situate in the City of Philadelphia, County of Philadelphia, Commonwealth of Pennsylvania, bounded and described as follows:
All that certain lot or piece of ground with the buildings and improvements thereon erected described according to a survey and plan thereof made by William K. Carlile, Esq., Survey and Regulator of the 7th District, on January 20, 1916, as follows: Situate on the west side of Broad Street, as widened to 113 feet, and the north side of Poplar Street, as widened to 60 feet, in the 47th Ward of the City of Philadelphia.
Containing in front or breadth on Broad Street 65 feet and extending that width in length or depth westward along Poplar Street 160 feet to a 40-foot wide street called Carlisle Street.
(c) Description of restriction and reversionary interest.--The restriction and reversionary interest referenced under subsection (a) is as follows:
"UNDER AND SUBJECT to the condition which prohibits the GRANTEE or any successor in title from using the property conveyed as a homeless shelter; the property shall revert to the Commonwealth of Pennsylvania upon failure of the GRANTEE or any successor in title to comply with this restrictive use."
(d) Legal instruments.--Any legal instrument necessary to release the use restriction and reversionary interest under this section shall be executed by the Secretary of General Services in the name of the Commonwealth of Pennsylvania.
(e) Costs and fees.--Any costs and fees incidental to the release authorized under this section shall be borne by 900 North Broad Street Corporation.
(f) Proceeds.--Proceeds received by the Department of General Services for the release authorized under this section shall be deposited into the General Fund.
(g) Definition.--As used in this section, the term "Act 96" shall mean the act of July 11, 1996 (P.L.545, No.96), entitled "An act providing for the transfer of certain roadways between the County of Lackawanna and the Department of Transportation and for the adoption of Township Road 632 in Susquehanna County as a State highway; directing the Department of Transportation to transfer a portion of Maclay Street in the City of Harrisburg to the City of Harrisburg and to assume temporary responsibility for the Paxtang Parkway in the Borough of Paxtang and the Township of Swatara from the City of Harrisburg; providing for the transfer of a roadway from the Borough of Wormleysburg, Cumberland County, to the Department of Transportation; authorizing and directing the Department of General Services, with the approval of the Department of Public Welfare and the Governor, to convey to the 900 North Broad Corporation certain real estate situate in the City and County of Philadelphia and the Commonwealth of Pennsylvania; and making repeals."