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Approving the action of the Boards of the Philadelphia Industrial Development Corporation and the Philadelphia Authority for Industrial Development to sell Parcel F-15, an approximately seven-acre parcel of vacant land at 7000 Holstein Avenue in the Eastwick Urban Renewal Area - Stage "A" Industrial, to The Cacciutti Organization.
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WHEREAS, The Council of the City of Philadelphia, by Bill Number 916, approved November 20, 1973, has authorized and approved the execution of a Redevelopment Agreement between the Redevelopment Authority of the City of Philadelphia and the Philadelphia Industrial Development Corporation, PIDC-Financing Corporation, and the Philadelphia Authority for Industrial Development, for the redevelopment and urban renewal of the Eastwick Urban Renewal Area - Stage "A" Industrial; and
WHEREAS, The Philadelphia Authority for Industrial Development has purchased from the Redevelopment Authority of the City of Philadelphia the required land under the terms and conditions of the aforesaid Redevelopment Agreement; and
WHEREAS, City Council did reserve unto itself the Right of Approval, by Resolution, for each transaction completed by PAID under the terms and conditions of the aforesaid Redevelopment Agreement; and
WHEREAS, The Cacciutti Organization, proposes to purchase Parcel F-15 containing approximately seven acres of vacant land at 7000 Holstein Avenue in the Eastwick Urban Renewal Area - Stage "A" Industrial, and construct an industrial complex containing three connected buildings with a total of seventy-eight thousand square feet of warehouse and office space; and
WHEREAS, The Cacciutti Organization proposes to create one hundred fifty jobs as a result of this development; and
WHEREAS, PIDC and PAID, upon the unconditional approval of their Boards at their meetings of March 23, 2004, and upon review by the Redevelopment Authority of the City of Philadelphia, have agreed to sell to The Cacciutti Organization, Parcel F-15 in the Eastwick Urban Renewal Area - Stage "A" Industrial more fully described as follows:
ALL THAT CERTAIN lot or piece of ground with the buildings and improvements erected thereon, situate in the Fortieth Ward of the City of Philadelphia, and described in accordance with a Plan of Property (2004/48SK/5669/CP#357 D3788) made February 17, 2004 for the Cacciutti Organization by Thomas F. Marro, Acting Surveyor and Regulator of the Seventh Survey District, as follows:
BEGINNING at a point on the southwesterly side of Seventieth street (eighty-eight feet wide), said point of tangency being at the southeasterly end of a curve having a radius of one hundred feet and an arc length of one hundred fifty-seven and eighty thousandths feet which connects the said southwesterly side of Seventieth street with the southeasterly side of Holstein avenue (one hundred feet wide); thence extending south twenty-two degrees forty-four minutes fifty-four seconds east, along the said southwesterly side of Seventieth street, the distance of one hundred thirty-eight and two hundred forty-five thousandths feet to a point; thence extending south thirty-six degrees forty minutes eighteen seconds west, crossing a five foot wide easement for the Bell Telephone Company adjacent to the said southwesterly side of Seventieth street and the said southeasterly side of Holstein avenue, the distance of eight hundred eighty-eight and seven thousandths feet to a point; thence extending north fifty-three degrees nineteen minutes forty-two seconds west, re-crossing the said five foot wide easement, the distance of three hundred fifty feet to a point on the said southeasterly side of Holstein avenue; thence extending north thirty-six degrees forty minutes eighteen seconds east, along the said southeasterly side of Holstein avenue, the distance of six hundred one and six hundred twenty-two thousandths feet to point of curve; thence extending northeastwardly, still along the said southeasterly side of Holstein avenue, along the arc of a circle curving to the right and having a radius of five hundred ninety-four and thirty-three thousandths feet, the arc distance of three hundred seventeen and forty-eight thousandths feet to a point of tangency; thence extending north sixty-seven degrees fifteen minutes six seconds east, still along the said southeasterly side of Holstein avenue, the distance of twenty-two and four hundred five thousandths feet to a point of curve; thence extending southeastwardly, along the said curve which connects the said southwesterly side of Seventieth street with the said southeasterly side of Holstein avenue, along the arc of a circle curving to the right and having a radius of one hundred feet, the arc distance of one hundred fifty-seven and eighty thousandths feet to the first mentioned point and place of beginning.
CONTAINING in area three hundred eighteen thousand five hundred eighty-four square feet or seven and three thousand one hundred thirty-six ten-thousandths acres.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF PHILADELPHIA
That the sale by the Philadelphia Authority for Industrial Development to The Cacciutti Organization, of Parcel F-15 in the Eastwick Urban Renewal Area - Stage "A" Industrial, as is more fully described above, is hereby approved so that the redevelopment and urban renewal of the Eastwick Urban Renewal Area may proceed in a manner most beneficial to the City of Philadelphia.
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