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Approving the redevelopment contract of the Redevelopment Authority of the City of Philadelphia for the redevelopment and urban renewal of a portion of the Independence Mall Urban Renewal Area, Unit No. 4 designated as Parcel Nos. 9D-1B also sometimes identified by respective house number and street address as 116-130 North Seventh street; authorizing the Redevelopment Authority to execute the redevelopment contract with Federal Reserve Bank of Philadelphia and to take such action as may be necessary to effectuate the redevelopment contract.
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WHEREAS, The Redevelopment Authority of the City of Philadelphia (hereinafter "Redevelopment Authority") has prepared and submitted an amended urban renewal plan and a amended redevelopment proposal for the redevelopment of the Center City Redevelopment Area, Independence Mall Urban Renewal Area, Unit No. 4 (hereinafter "Independence Mall Unit 4"), which said amended plan and amended proposal were approved by Ordinance of the Council on February 19, 1966, as amended; and
WHEREAS, The Redevelopment Authority has prepared a redevelopment contract for a portion of Independence Mall Unit 4 designated as Parcel No. 9D-1B also sometimes identified by respective house number and street address as 116-130 North Seventh street; (the “Property”). The area of said Property is bounded as follows:
Parcel No. 9D-1B (116-130 North Seventh street).
ALL THAT CERTAIN lot or piece of ground situated in the Fifth Ward of the City of Philadelphia beginning on the northwest corner of the intersection at North Seventh street (sixty four feet wide) and Appletree street (thirty feet wide); Thence extending northward along the west side of the said Seventh street one hundred forty one feet three inches to the centerline of Cherry street (thirty feet wide); Thence extending westward along the centerline of the said Cherry street two hundred thirty eight feet four and five-eighths inches to a point; Thence extending southward parallel to the said Seventh street sixty eight feet eleven inches to a point; Thence extending eastward, parallel to the said Cherry street, thirty feet to a point; Thence extending southward parallel to the said Seventh street seventy two feet four inches to a point on the north side of the said Appletree street; Thence extending eastward along the north side of the said Appletree street two hundred eight feet seven and one-quarter inches to the first mentioned point and place of beginning.
The said redevelopment contract is in substantial conformity with the amended urban renewal plan and the amended redevelopment proposal approved by the Council.
WHEREAS, Federal Reserve Bank of Philadelphia desires to enter into the said redevelopment contract for the Parcel.
RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the redevelopment contract submitted by the Redevelopment Authority of the City of Philadelphia (hereinafter "Redevelopment Authority") for the redevelopment of that portion of Independence Mall Unit 4, as hereinabove more particularly described, is hereby approved. City Council authorizes the Redevelopment Authority to proceed with minor changes in substantial conformity with the hereby approved redevelopment contract. The Redevelopment Authority is authorized to execute the hereby approved redevelopment contract with Federal Reserve Bank of Philadelphia (hereinafter "Redeveloper"). The Redevelopment Authority and the Redeveloper are authorized to take such action in substantial conformity to the redevelopment contract as may be necessary to carry it out.
RESOLVED, The Redevelopment Authority and the Redeveloper are authorized to prepare or cause to be prepared for introduction into the Council such ordinances or resolutions as may be necessary for changes in zoning, streets, alleys, public ways, street patterns, location and relocation of public utilities, and related items which are required in order to facilitate and effectuate the redevelopment contract and disposition supplement hereby approved. Accordingly, the Council hereby declares that it will cooperate in helping to carry out the redevelopment contract and requests the various officials, departments, boards and agencies of the City having administrative responsibilities in the premises likewise to cooperate to such end and to exercise their respective functions and powers in a manner consistent with the redevelopment contract and disposition supplement.
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