Title
Authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Authority for Industrial Development ("PAID"), without consideration, a deed conveying fee simple title to a certain tract of City-owned land with the buildings and improvements thereon, situate at the southeast corner of Thirty-first and Oakford Streets, generally under and subject to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, the PAID, and the Philadelphia Industrial Development Corporation.
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 ("PAID"), without consideration, a deed conveying fee simple title to the following described tract of ground, subject however to all the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, the PAID, and the Philadelphia Industrial Development Corporation, as follows:
ALL THAT CERTAIN vacant lot or piece of ground situate in the Thirty-sixth Ward of the City of Philadelphia and derived from a survey and Plan of Properties by John Stefanco, Surveyor and Regulator of the Second Survey District, dated February 27, 1978, as follows:
BEGINNING at a point of intersection formed by the southerly side of Oakford street (fifty feet wide) and the easterly side of Thirty-first street (fifty feet wide); thence extending south seventy-five degrees zero minutes east along the southerly side of the said Oakford street and partly crossing the northerly end of former Thirtieth street (fifty feet wide - stricken from the City Plan and vacated) being also the northerly end of a fifty foot wide right-of-way reserved for drainage purposes, the distance of four hundred twenty-one feet zero inches to a point on the centerline of the said drainage right-of-way and former Thirtieth street; thence extending south fifteen degrees zero minutes west along the centerline of the said fifty foot wide drainage right-of-way, being also the former Thirtieth street, the distance of two hundred thirty-six feet zero inches to a point on the northerly side of Titan street (thirty feet wide); thence extending north seventy-five degrees zero minute west along the northerly side of the said Titan street and partly crossing the southerly end of the said fifty foot wide drainage right-of-way, the distance of four hundred twenty-one feet zero inches to a point on the easterly side of the said Thirty-first street; thence extending north fifteen degrees zero minutes east along the easterly side of the said Thirty-first street, the distance of two hundred thirty-six feet zero inches to a point on the southerly side of the said Oakford street, being the first mentioned point and place of beginning.
CONTAINING in total area ninety-nine thousand three hundred fifty-six square feet or two and two thousand eight hundred nine ten-thousandths acres including five thousand nine hundred square feet (thirteen thousand five forty-four hundred-thousandths acre) in the bed of the former Thirtieth street now reserved as a right-of-way for drainage.
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.
SECTION 3. Notwithstanding anything in the Philadelphia Industrial and Commercial Development Agreement to the contrary, proceeds from the sale of this property shall be deposited in the City's General Fund.
End