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Authorizing the Philadelphia Authority for Industrial Development (PAID), notwithstanding any contrary requirements of the Philadelphia Industrial and Commercial Development Agreement between the City, the Philadelphia Industrial Development Corporation (PIDC), and the PAID, to convey fee simple title to a certain property located in the vicinity of Forty-ninth Street and south of Parkside Avenue, for less than fair market value, under certain terms and conditions.
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THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
Section 1. Notwithstanding any contrary requirements of the Philadelphia Industrial and Commercial Development Agreement between the City, the Philadelphia Authority for Industrial Development (PAID) and the Philadelphia Industrial Development Corporation (PIDC), PAID is authorized to convey fee simple title to the following described property located in the vicinity of Forty-ninth Street and south of Parkside Avenue, for less than fair market value, under certain terms and conditions.
All that certain lot or piece of ground with the buildings and improvements erected thereon, situated in the Fifty-second Ward of the City of Philadelphia, and described as follows (subject to an official survey and plan):
BEGINNING at a point on the southeasterly side of Forty-ninth street (sixty feet wide) at the distance of two hundred feet southwestwardly from the southwesterly side of Parkside avenue (one hundred feet wide, State Route #3017, Legislative Route #67369); thence extending south sixty-two degrees twenty-four minutes forty-seven seconds east, the distance of sixty-five and one hundred seventy-seven one-thousandths feet to a point; thence extending south six degrees nineteen minutes twenty-nine seconds east the distance of twenty and eight hundred ninety-six one-thousandths feet to a point; thence extending south eighty-three degrees forty minutes thirty-one seconds west the distance of four and seven hundred seventy-one one-thousandths feet to a point; thence extending south sixty-two degrees twenty-four minutes forty-seven seconds east the distance of forty-seven and one hundred twenty-five one-thousandths feet to a point; thence extending north twenty-seven degrees thirty-five minutes thirteen seconds east the distance of one hundred feet to a point; thence extending south sixty-two degrees twenty-four minutes forty-seven seconds east partly along the southwesterly side of a three-foot wide alley which extends from the dead end southeastwardly communicating with a three and six hundred sixty-seven one-thousandths foot wide alley which extends northeastwardly into the said Parkside avenue, the distance of one hundred feet to a point; thence extending south twenty-seven degrees thirty-five minutes thirteen seconds west the distance of one hundred feet to a point; thence extending south sixty-two degrees twenty-four minutes forty-seven seconds east, the distance of four hundred eighty feet to a point on the northwesterly side of Forty-eighth street (sixty feet wide); thence extending south twenty-seven degrees thirty-five minutes thirteen seconds west, along the said northwesterly side of Forty-eighth street, the distance of twenty feet to a point at the dead end head of the said Forty-eighth street; thence extending south sixty-two degrees twenty-four minutes forty-seven seconds east, crossing the said head of Forty-eighth street and crossing the head of a sixty foot wide right-of-way reserved for drainage purposes, the distance of sixty feet to a point of the southeasterly side of the said sixty foot wide drainage right-of-way; thence extending south twenty-seven degrees thirty-five minutes thirteen seconds west, along the said southeasterly side of the sixty foot wide right-of-way, the distance of seven hundred seventy feet and five hundred thirty-nine one-thousandths feet to the point on a curve; thence extending the following two courses and distances, recrossing the said sixty foot wide right-of-way: (1) northwesterly, along the said curve being the northeasterly side of Jefferson street (sixty feet wide) along the arc of a circle curving to the left and having a radius of sixty feet and an arc length of two hundred forty-two and two hundred twenty-nine one-thousandths feet, the distance of thirty-one and four hundred sixteen one-thousandths feet to a point and (2) north sixty-two degrees twenty-four minutes forty-seven seconds west, along the said northeasterly side of Jefferson street, the distance of seven hundred five feet to a point of curve; thence extending northwestwardly, along the said curve which connects the said southeasterly side of Forty-ninth street with the said northeasterly side of Jefferson street, along the arc of a circle curving to the right and having a radius of twenty-five feet, the arc distance of thirty-nine and two hundred seventy one-thousandths feet to a point; thence extending north twenty-seven degrees thirty-five minutes thirteen seconds east along the said southeasterly side of Forty-ninth street the distance of seven hundred seventy-seven and five-tenths feet to the first mentioned point and place of beginning.
Containing in area six hundred four thousand six hundred ninety-two and forty-five one hundredths (604,692.45) square feet or thirteen and eighty-eight one-hundredths (13.88) acres.
EXCEPTING THEREFROM the following area:
BEGINNING at a point on the southeasterly side of Forty-ninth street (sixty feet wide) at the distance of two hundred feet southwestwardly from the southwesterly side of Parkside avenue (one hundred feet wide, State Route #3017, Legislative Route #67369); thence extending south sixty-two degrees twenty-four minutes forty-seven seconds east, the distance of sixty-five and one hundred seventy-seven one-thousandths feet to a point; thence extending south six degrees nineteen minutes twenty-nine seconds east the distance of twenty and eight hundred ninety-six one-thousandths feet to a point; thence extending south eighty-three degrees forty minutes thirty-one seconds west the distance of four and seven hundred seventy-one one-thousandths feet to a point; thence extending south sixty-two degrees twenty-four minutes forty-seven seconds east the distance of forty-seven and one hundred twenty-five one-thousandths feet to a point; thence extending north twenty-seven degrees thirty-five minutes thirteen seconds east the distance of one hundred feet to a point; thence extending south sixty-two degrees twenty-four minutes forty-seven seconds east partly along the southwesterly side of a three foot wide alley which extends from the dead end southeastwardly communicating with a three and six hundred sixty-seven one-thousandths foot wide alley which extends northeastwardly into the said Parkside avenue, the distance of one hundred feet to a point; thence extending south twenty-seven degrees thirty-five minutes thirteen seconds west the distance of one hundred feet to a point; thence extending south sixty-two degrees twenty-four minutes forty-seven seconds east, the distance of four hundred eighty feet to a point on the northwesterly side of Forty-eighth street (sixty feet wide); thence extending south twenty-seven degrees thirty-five minutes thirteen seconds west, along the said northwesterly side of Forty-eighth street, the distance of twenty feet to a point at the dead end head of the said Forty-eighth street; thence extending south sixty-two degrees twenty-four minutes forty-seven seconds east, crossing the said head of Forty-eighth street and crossing the head of a sixty-foot wide right-of-way reserved for drainage purposes, the distance of sixty feet to a point of the southeasterly side of the said sixty foot wide drainage right-of-way; thence extending south twenty-seven degrees thirty-five minutes thirteen seconds west along the said southwesterly side of the sixty-foot wide right-of-way and crossing the head of a seventy-foot wide right-of-way reserved for drainage purposes, the distance of four hundred eighteen and six hundred forty-four one-thousandths feet to a point, said point being the beginning of a non-tangent curve to which beginning of curve a radial line bears north fifty-six degrees forty-eight minutes forty-four and twenty-five one-hundredths seconds east; thence extending northwestwardly along the arc of a circle curving to the left and having a radius of two thousand three hundred thirty-six and one hundred fifteen one-thousandths feet, recrossing the said sixty-foot wide right-of-way, the arc distance of one hundred thirty-three and three hundred fifty-six one-thousandths feet to a point of compound curve; thence extending northwestwardly along the arc of a circle curving to the left and having a radius of one thousand thirty-eight and five hundred twenty-one one-thousandths feet, the arc distance of one hundred sixty and eight hundred seventy-seven one-thousandths feet to a point of compound curve; thence extending northwestwardly along the arc of a circle curving to the left and having a radius of two thousand five hundred twenty and eight hundred thirteen one-thousandths feet, the arc distance of five hundred two and nine hundred eighty-four one-thousandths feet to a point on the said southeasterly side of Fourth street, to which said point a radial line bears north thirty-three degrees fourteen minutes twenty-five one-hundredths seconds east; thence extending north twenty-seven degrees thirty-five minutes thirteen seconds east, along the non-tangent line of the said southeasterly side of Forty-ninth street, the distance of two hundred thirty-nine and one one-hundredths feet to a point being the first mentioned point and place of beginning.
CONTAINING in area two hundred thirty-seven thousand eight hundred twenty and eighty-nine one-hundredths (237,820.89) square feet or five and forty-six one-hundredths (5.46) acres.
Section 2. The City Solicitor is hereby authorized to review and to 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 and to carry out the purposes of the Philadelphia Industrial and Commercial Development Agreement and this Ordinance.
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