The lease agreement shall be on file with the Department of
General Services.
Section 2. Inconsistent repeal.
Section 2402(i) of the act of April 9, 1929 (P.L.177,
No.175), known as The Administrative Code of 1929, is repealed
to the extent of any inconsistency with this act.
Section 2. Land within the Delaware River bed and 1341 South
Christopher Columbus Boulevard, City of Philadelphia.
(a) Authorization.--The Commonwealth owns the lands within
the bed of the Delaware River, a portion of which is located in
the 1st Ward of the City of Philadelphia, and includes lands
commonly known as 1341 South Christopher Columbus Boulevard,
Pier No. 55 and Pier 57, and referred to collectively as the
"Properties," all of which are more fully described in
subsection (b). The Department of General Services, with the
concurrence of the Department of Environmental Protection,
acting on behalf of the Commonwealth, is authorized to lease,
for rent or consideration, to K4 Philadelphia, LLC, or its
nominee (hereinafter "lessee") for an initial term of 99 years,
land within the bed of the Delaware River in the City of
Philadelphia, and to extend the period for all or any portion of
the leased premises for an additional term of up to 99 years.
(b) Property description.--The Properties to be leased are
more particularly described as follows:
(1) PIER 55 IMPROVEMENT AREA
ALL THAT CERTAIN parcel or tract of land, situate in the 1st
Ward of the City of Philadelphia, Commonwealth of Pennsylvania,
bounded and described as follows:
BEGINNING at an internal point, the said point being measured
the following eleven (11) courses and distances from the point
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