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Approving the redevelopment contract and disposition supplement of the Redevelopment Authority of the City of Philadelphia for the redevelopment and urban renewal of a portion of the American Street Industrial Corridor Urban Renewal Area, designated as Parcel No. 17 also sometimes identified by respective house number and street address for Parcel No. 17 as 1620-1650 North Fifth street; and authorizing the Redevelopment Authority to execute the redevelopment contract with 1620 N. 5th Street, LLC and to take such action as may be necessary to effectuate the redevelopment contract and disposition supplement.
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WHEREAS, The Redevelopment Authority of the City of Philadelphia (hereinafter "Redevelopment Authority"), has prepared and submitted an urban renewal plan and a redevelopment proposal for the redevelopment of the American Street Industrial Corridor Urban Renewal Area (hereinafter "American Street"), which said plan and proposal were approved by Ordinance of the Council on June 13, 2002, as amended; and
WHEREAS, The Redevelopment Authority has prepared a redevelopment contract for a portion of American Street, designated as Parcel No. 17 also sometimes identified by respective house number and street address for Parcel No. 17 as 1620-1650 North Fifth street (hereinafter “Property”). The area of the Property is bounded as follows:
Parcel No. 17 (1620-1650 North Fifth street). All that certain lot or piece of ground situated in the Eighteenth Ward of the City of Philadelphia beginning at a point on the west side of North 5th street (fifty feet wide) at the distance of two hundred ninety four feet five and three-quarters inches northward of the north side of Oxford street (fifty feet wide); Thence extending northward along the west side of the said Fifth street; two hundred ninety four feet five and three-quarters inches, to the southwest corner of the intersection at the said Fifth street and Columbia avenue; Thence extending westward along the south side of the said Columbia avenue; one hundred ninety feet, to the southeast corner of the intersection at north Randolph street (fifty feet wide) and the said Columbia avenue; Thence extending southward along the east side of the said Randolph street; two hundred ninety four feet four and one-half inches, to a point; Thence extending eastward; one hundred ninety feet, to the first mentioned point and place of beginning.
The said redevelopment contract is in substantial conformity with the urban renewal plan and the redevelopment proposal approved by the Council.
WHEREAS, 1620 N. 5th Street, LLC desires to enter into the said redevelopment contract for the Property; and
WHEREAS, The Redevelopment Authority has prepared a disposition supplement providing inter alia for development controls and regulations imposed upon the Property.
RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the redevelopment contract and disposition supplement submitted by the Redevelopment Authority of the City of Philadelphia (hereinafter "Redevelopment Authority") for the redevelopment of that portion of American Street, 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 and disposition supplement. The Redevelopment Authority is authorized to execute the hereby approved redevelopment contract with 1620 N. 5th Street, LLC (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 disposition supplement 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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J:\City Council\ResolutionStreet\AM_Res_012 (1620 N. 5th Street LLC).doc