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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 E-22, located at Seventieth Street and Holstein Avenue in the Eastwick Urban Renewal Area - Stage “A” Industrial, containing approximately five acres to the Automall Realty 70th Street, LLC, or its nominee.
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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, Automall Realty 70th Street, LLC, or its nominee, proposes to purchase Parcel E-22, located at Seventieth street and Holstine avenue in the Eastwick Urban Renewal Area – Stage “A” Industrial, and construct a five-hundred-car fleet sales processing lot; and
WHEREAS, Automall Realty 70th Street, LLC, or its nominee, proposes to create eighteen new jobs; and
WHEREAS, PIDC and PAID, upon the unconditional approval of their Boards at their meetings of May 3, 2005, and upon review by the Redevelopment Authority of the City of Philadelphia, have agreed to sell to the Automall Realty 70th Street, LLC or its nominee, Parcel E-22 in the Eastwick Urban Renewal Area - Stage “A” Industrial, containing approximately five acres, 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 (EE-10-0026/364-03) made August 13, 2004 for Automall Realty, Inc. by Thomas F. Marro, Acting Surveyor and Regulator of the Seventh Survey District, as follows:
BEGINNING at a point of tangency on the northwesterly side of Holstein avenue (one hundred feet wide), said point of tangency being the southwesterly end of a curve having a radius of one hundred feet and an arc length of one hundred fifty-seven and eighty one-thousandths feet which connects the said northwesterly side of Holstein avenue with the southwesterly side of Seventieth street (eighty-eight feet wide); thence extending south sixty-seven degrees fifteen minutes six seconds west, along the said northwesterly side of Holstein avenue, the distance of twenty-two and four hundred six one-thousandths feet to a point of curve; thence extending southwestwardly, still along the said northwesterly side of Holstein avenue, along the arc of a circle curving to the left and having a radius of six hundred ninety-four and thirty-three one-thousandths feet, the arc distance of one hundred twenty-seven and five hundred seventy-eight one-thousandths feet to a point; thence extending north thirty-three degrees sixteen minutes fifty seconds west, along a non-tangent line, the distance of three hundred sixty and one hundred eighty-eight one-thousandths feet to a point; thence extending north twenty-two degrees forty-four minutes fifty-four seconds west, the distance of four hundred and six one-thousandths feet to a point; thence extending north sixty-seven degrees fifteen minutes six seconds east, crossing a five foot wide easement for the Bell Telephone Company adjacent to the said southwesterly side of Seventieth street, the distance of three hundred fifteen and one hundred five one-thousandths feet to a point on the said southwesterly side of Seventieth street; thence extending south twenty-two degrees forty-four minutes fifty-four seconds east, along the said southwesterly side of Seventieth street, the distance of six hundred forty-two and four hundred thirty-four one-thousandths feet to a point of curve; thence extending southwestwardly, along the said curve which connects the said northwesterly side of Holstein avenue with the said southwesterly side of Seventieth street, 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 one-thousandths feet to the first mentioned point and place of beginning.
CONTAINING in area two hundred twenty-one thousand four hundred four square feet or five and eight hundred twenty-seven 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 Automall Realty 70th Street, LLC, its nominee, of Parcel E-22, located at Seventieth street and Holstein avenue 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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