Title
Authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Authority for Industrial Development a deed for nominal consideration conveying fee simple title to three adjacent parcels, situate 105-09 Reed Street in the City of Philadelphia, with the buildings and improvements thereon, for further conveyance at fair market value.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. The Commissioner of Public Property is hereby authorized to execute and deliver to the Philadelphia Authority for Industrial Development, for nominal consideration, a deed conveying fee simple title to the following described three adjacent parcels for further conveyance at fair market value:
PARCEL ONE
ALL THAT CERTAIN lot or piece of ground with the buildings and improvements thereon erected, SITUATE on the North side of Reed Street at the distance of 32 feet Eastward from the East side of Howard Street in the 1st Ward of the City of Philadelphia.
CONTAINING in front or breadth on the North side of Reed Street 15 feet and extending of that width in length or depth Northward 50 feet.
BOUNDED Northward and Westward by ground now or late of Jonathan Aston, Eastward by a 3 feet wide alley or court parallel with Front Street leading Northward from said Reed Street and Southward by Reed Street aforesaid.
TOGETHER with the free and common use, right, liberty and privilege of the said alley as and for passageway and watercourse at all times hereafter, forever
BEING No. 105 Reed Street.
PARCEL TWO
ALL THAT CERTAIN lot or piece of ground, SITUATE in the 1st Ward of the City of Philadelphia, on the North side of Reed Street 16 feet East of Howard Street.
CONTAINING in front of breadth 16 feet and extending of that width in length or depth 50 feet.
BEING No. 107 Reed Street.
PARCEL THREE
ALL THAT CERTAIN lot or piece of ground, SITUATE in the 1st Ward of the City of Philadelphia, on the Northeast corner of Reed and Howard Streets.
CONTAINING in front or breadth 16 feet and extending of that width in length or depth 16 feet and extending of that width in length or depth 50 feet.
BEING No. 109 Reed Street.
SECTION 2. The City Solicitor is hereby authorized to review and approve all instruments and documents necessary to effectuate this Ordinance, which instruments and documents shall contain such terms and conditions as the City Solicitor shall deem necessary and proper to protect the interest of the City.
SECTION 3. Net proceeds from the sale of this property shall be deposited in the City’s General Fund.
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