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Approving the sale by the Philadelphia Authority for Industrial Development for fair market value of the former Convention Hall and Commerce Museum properties, situate in the vicinity of Thirty-fourth Street and Civic Center Boulevard, to the University of Pennsylvania, under certain terms and conditions.
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WHEREAS, The Council of the City of Philadelphia ("Council"), by Bill No. 980785 (approved December 30, 1998), has authorized the Commissioner of Public Property and the Director of Commerce to convey the City-owned site generally bounded by University Avenue, Civic Center Boulevard, Convention Avenue, and the northerly line of a railroad right-of-way (the "Civic Center Site") to the Philadelphia Authority for Industrial Development (hereinafter "PAID"), for development; and
WHEREAS, Bill No. 980785 further authorized PAID to enter into Agreements of Sale and Development Agreements for a consideration of fair market value; and
WHEREAS, The conveyance of the herein below described parcel to the University of Pennsylvania will be subject to the authorization of the PAID and Philadelphia Industrial Development Corporation Boards of Directors and the Director of Commerce in accordance with the terms of the Industrial and Commercial Development Agreement; and
WHEREAS, The net proceeds received by PAID from the reconveyance of the University of Pennsylvania shall be deposited in the Industrial and Commercial Development Revolving Fund per Bill No. 980785; and
WHEREAS, Under Bill No. 980785, City Council did reserve unto itself the Right of Approval, by Resolution, of future reconveyance by PAID of any portion of this parcel; and
WHEREAS, PAID intends to sell to the University of Pennsylvania for fair market value the former Convention Hall and Commerce Museum properties as more fully described as follows:
ALL THAT CERTAIN lot or piece of ground, situate in the Twenty-seventh Ward of the City of Philadelphia, described in accordance with a Plan made by Pennoni Associates, Inc. dated October 22, 1988, as follows (subject to an official survey):
BEGINNING at a point located on a southeasterly side of Civic Center boulevard (eighty feet wide), said point being located north sixty-one degrees twenty-eight minutes thirty-six seconds east at the distance of one thousand four hundred two and six hundred forty-two one-thousandths feet from the easterly end of a curve having a radius of one hundred thirty-one and seven one-thousandths feet and an arc distance of one hundred eighty-eight and eight hundred fifty-six one-thousandths feet curving to the left and connecting the southeasterly side of said Civic Center boulevard and the northeasterly side of University avenue (variable width); thence extending north sixty-one degrees twenty-eight minutes thirty-six seconds east along a southeasterly side of the said Civic Center boulevard, the distance of one hundred seventy and eighty-two one-hundredths feet to a point of curve; thence extending northeastwardly and northwardly along the said Civic Center boulevard being a line curving to the left having a radius of one hundred seventy-one and eight hundred twenty-nine one-thousandths feet and an arc distance of one hundred fifty-one and three hundred twenty-nine one-thousandths feet to a point of tangency; thence extending north seven degrees twenty-nine minutes fifty-eight seconds east along an easterly side of Thirty-Fourth street (variable width), the distance of thirty-six and five hundred thirty-three one-thousandths feet to a point of curve; thence extending northeastwardly along Convention avenue (variable width) being a line curving to the right having a radius of fifty-eight and one hundred seventy-four one-thousandths feet and an arc distance of sixty-nine and seven hundred ninety-four one-thousandths feet to a point of tangency; thence extending north seventy-nine degrees forty-five minutes twenty-five seconds east along a southerly side of the said Convention avenue; the distance of four and three hundred eighty-six one-thousandths feet to a point of curve; thence extending southeastwardly along a side of Convention avenue (seventy feet wide) being a line curving to the right having a radius of eighty-five feet and an arc distance of one hundred six and three hundred ninety-eight one-thousandths feet to a point of tangent; thence extending south twenty-eight degrees thirty-one minutes twenty-four seconds east along a southwesterly side of the said Convention avenue, the distance of three hundred twenty-five and one hundred seventy one-thousandths feet to a point of curve; thence extending southeastwardly and northeastwardly along a side of the said Convention avenue, being a line curving to the left having a radius of one hundred thirty-five feet and an arc distance of two hundred twenty-six and three hundred sixty-four one-thousandths feet to a point on the said arc; thence extending south forty-eight degrees fifty-nine minutes thirty seconds east, the distance of twenty-three and three hundred forty one-thousandths feet to a point on the northwesterly side of the railroad right-of way; thence extending southwestwardly and northwestwardly the following two courses and distances along the aforesaid railroad right-of-way: (1) south forty-two degrees thirty-eight minutes fifty-five seconds west, the distance of fifty four and nine hundred seventeen one-thousandths feet to a point and (2) south fifty-eight degrees twenty nine minutes forty-four seconds west, the distance of forty-one feet to a point; thence extending north sixty-one degrees fifteen minutes twenty-five seconds east, the distance of four hundred ninety-nine and seventy-one one-hundredths feet to a point; thence extending north twenty-eight degrees thirty minutes twenty-three seconds west, the distance of four hundred seventy-seven and seventy-six one hundredths feet to a point being the first mentioned point and place of beginning.
CONTAINING in area two hundred thirty-three thousand seven hundred forty-five square feet or five and thirty-seven one-hundredths acre.
TOGETHER with the following easements for access purposes:
Easement 1
ALL THAT CERTAIN lot or piece of ground situate in the Twenty-seventh Ward of the City of Philadelphia, described in accordance with a Plan made by Pennoni Associates, Inc. dated October 22, 1988, as follows:
BEGINNING at a point located southeast of the southeasterly side of Civic Center boulevard (eighty feet wide); said point being located (1) north sixty-one degrees twenty-eight minutes thirty-six seconds east along the southeasterly side of said Civic Center boulevard at the distance of one thousand four hundred twenty-one and three hundred six one-thousandths feet from the easterly end of a curve having a radius of one hundred thirty-one and seven one-thousandths feet, the arc distance of one hundred eighty-eight and eight hundred fifty-six one-thousandths feet curving to the left and connecting the southeasterly side of said Civic Center boulevard and the northeasterly side of University avenue (variable width); (2) thence extending south twenty-eight degrees thirty minutes twenty-three seconds east from the southeasterly side of said Civic Center boulevard the distance of four hundred forty-one and three hundred eighty-seven one-thousandths feet to said beginning point; thence extending north sixty-one degrees fifteen minutes twenty-five seconds east along a line, the distance of four hundred fourteen and seven hundred six one-thousandths feet to a point; thence extending north twenty degrees eight minutes seven seconds east, the distance of seventy-four and one one-thousandths feet to a point on the southerly side of Convention avenue (seventy feet wide); thence extending southeastwardly along the southerly side of said Convention avenue along the arc of a circle curving to the left having a radius of one hundred thirty-five feet, the arc distance of fifty-two and nine hundred thirty one-thousandths feet to a point; thence extending south twenty degrees eight minutes seven seconds west along a line, the distance of eighty and three hundred forty-three one-thousandths feet to a point; thence extending south sixty-one degrees fifteen minutes twenty-five seconds west along a line, the distance of four hundred fifty-two and seven hundred fifty-five one-thousandths feet to a point; thence extending north twenty-eight degrees thirty minutes twenty-three seconds west, the distance of thirty-four and eight hundred ninety-one-thousandths feet to the first mentioned point and place of beginning.
BEING a proposed service road easement extending southwardly and westwardly from Convention avenue along the rears of Museum and Convention Hall.
CONTAINING in area eighteen thousand nine hundred ninety-four square feet or zero and forty-four one-hundredths acre.
Easement 2
ALL THAT CERTAIN lot or piece of ground, situate in the Twenty-seventh Ward of the City of Philadelphia, described in accordance with a Plan made by Pennoni Associates, Inc. dated October 22, 1988, as follows:
BEGINNING at a point located southeast of the southeasterly side of Civic Center boulevard (eighty feet wide), said point being located (1) north sixty-one degrees twenty-eight minutes thirty-six seconds east along the southeasterly side of said Civic Center boulevard at the distance of one thousand four hundred twenty-one and three hundred six one-thousandths feet from the easterly end of a curve having a radius of one hundred thirty-one and seven one-thousandths feet, the arc distance of one hundred eighty-eight and eight hundred fifty-six one-thousandths feet curving to the left and connecting the southeasterly side of said Civic Center boulevard and the northeasterly side of University avenue (variable width); (2) thence extending south twenty-eight degrees thirty minutes twenty-three seconds east from the southeasterly side of said Civic Center boulevard the distance of eight and eight hundred nineteen one-thousandths feet to said beginning point; thence extending north sixty degrees fifty-nine minutes ten seconds east along a line the distance of four hundred thirty-three and four hundred ninety-one one-thousandths feet to a point on the southwesterly side of Convention avenue (seventy feet wide); thence extending south twenty-eight degrees thirty-one minutes twenty-four seconds east along the southwesterly side of said Convention avenue the distance of seventeen and nine hundred sixty-nine one-thousandths feet to a point; thence extending south sixty degrees fifty-six minutes fifty-eight seconds west along a line, the distance of four hundred thirty-three and four hundred ninety-nine one-thousandths feet to a point; thence extending north twenty-eight degrees thirty minutes twenty-three seconds west along a line, the distance of eighteen and two hundred forty-five one-thousandths feet to the first mentioned point and place of beginning.
BEING a proposed access tunnel easement located from the westerly side of Convention avenue and extending westwardly (parallel with Civic Center boulevard) along the fronts of Convention Hall and Museum.
CONTAINING in area seven thousand eight hundred forty-nine square feet or zero and eighteen one-hundredths acre.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF PHILADELPHIA
THAT The sale by the Philadelphia Authority for Industrial Development for fair market value of the former Convention Hall and Commerce Museum properties, situate in the vicinity of Thirty-fourth Street and Civic Center Boulevard, to the University of Pennsylvania is approved, and the City Solicitor is hereby authorized to approve all instruments and documents necessary to effectuate the purposes of this Resolution, and to include therein such additional terms and conditions as, in the opinion of the City Solicitor, are necessary and proper to protect the interests of the City.
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