Summary
PICA adopted Resolution No. 2018-10.1, approving the execution of a new lease agreement for its office space. The Authority’s current lease at 1500 Walnut Street, Suite 1600, was set to expire, prompting staff to explore new lease options. After evaluating multiple properties with commercial real estate brokers, PICA staff recommended signing a six-year lease for new office space. The resolution grants the Executive Director the authority to finalize negotiations and execute the lease. Additionally, it authorizes officers to handle the termination of the current lease and any necessary transition activities. The resolution takes effect immediately.