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 313, 315, 317, 319, 321, 323 and 325 Race street, 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 Phildelphia Authority for Industrial Development (“PAID”), without consideration, a deed conveying fee simple title to the following described two parcels of ground, situate at 313, 315, 317, 319, 321, 323 and 325 Race street, 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:
Parcel one
ALL THAT CERTAIN vacant lot or piece of ground, together with the improvements thereon erected, situate in the Fifth Ward of the city of Philadelphia and described in accordance with a plan made December 15, 1971, by Thomas J. Johnston, Surveyor and Regulator of the Third Survey District, as follows:
BEGINNING at a point on the northerly side of Race street (fifty feet wide) at the distance of one hundred fifty-nine feet ten inches westwardly from the westerly side of Third street (fifty feet wide); thence extending westwardly along said northerly side of Race street the distance of sixty feet six inches to a point; thence extending northwardly the distance of one hundred seventy feet five and three quarter inches to a point on the southerly side of Florist street (variable width), said point being two hundred twenty-one feet one and three-eighth inches westwardly from the westerly side of said Third street; thence extending eastwardly along the said southerly side of Florist street the distance of sixty feet seven and one-half inches to a point, said point being one hundred sixty feet five and seven-eighths inches westwardly from the westerly side of said Third street; thence extending southwardly the distance of one hundred sixty-six feet eight and three-quarter inches to the first mentioned point and place of beginning.
CONTAINING in total area tharee thousand seven hundred twenty square feet.
BEING known as 313-317 Race street 60 x 62
Parcel two
ALL THOSE THREE CERTAIN contiguous lots or pieces of ground, together with the buildings and improvements thereon erected, situate in the Sixth Ward of the City of Philadelphia and described in accordance with a plan made July 21, 1909, by W. C. Crammer, Esq, Surveyor and Regulator of the Third Survey District, as follows:
Beginning at a point on the North side of Race street at the distance of One hundred and eighteen feet eight and one half inches Eastward from the East side of Fourth street, thence extending North on a line parallel with the said Fourth street, partly through the middle of an alley (Two feet ten inches wide by Twenty seven feet five inches deep) One hudnred and eighty feet two inches to the South side of Florist street (which point is at the distance of One hundred and eighteen feet eight and one half inches Eastward from the East side of the said Fourth street) thence East along the said Florist street Eighteen feet four and one half inches to a point, thence South on a line forming an angle of Ninety degrees five minutes and thirty seconds with the said Florist street Eighty feet two inches to a point, thence East on a line parallel with the said Race and Florist streets Twenty feet to a point, thence North Four feet to a point, thence East on a line parallel with the said Race and Florist streets Twenty feet to a point, thence South on a line forming an angle of Eighty nine degrees fifty four minutes and third seconds with the said Race street one hundred and four feet to the North side of the said Race street and thence West along the same Fifty eight feet seven inches to the place of beginning.
BEING known as 319-325 Race street 77 x 175
CONTAINING in total area thirteen thousand four hundred seventy five square feet.
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. Net proceeds from the sale of this property shall be deposited in the City’s General Fund.
SECTION 4. This Ordinance shall take effect immediately.
End