(1) The Commissioner of Public Property is hereby authorized to transfer title to any property or ground to which he has accepted title under the provisions and conditions of this Chapter or any surplus property or ground made available for distribution in accordance with the terms of this Chapter to the Redevelopment Authority of the City of Philadelphia, with or without consideration. The Commissioner of Public Property shall execute and deliver to the Redevelopment Authority deeds conveying fee simple title to City-owned property for the purpose of rehabilitation and use in accordance with the Comprehensive Land Use Plan of the City of Philadelphia providing the Redevelopment Authority shall reimburse the City, upon sale of the property so conveyed, to the extent of the net proceeds thereof and that the property or ground so transferred shall be held by the Redevelopment Authority for a period not to exceed three (3) years after which time it shall be transferred back to the City if the Vacant Property Review Committee determines that the property or ground can be used to further accomplish the provisions of this Chapter.