Title
Authorizing the Philadelphia Authority for Industrial Development ("PAID") to purchase a certain 66.4-acre tract of land situate at 4501 Richmond street, for a consideration not to exceed Three Million Three Hundred Twenty Thousand Dollars ($3,320,000), under and subject to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, PAID, and Philadelphia Industrial Development Corporation (PIDC).
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. The Philadelphia Authority for Industrial Development ("PAID"), is hereby authorized to purchase, for a consideration not to exceed Three Million Three Hundred Twenty Thousand Dollars ($3,320,000), not including settlement and other incidental costs, the following described parcel of land situate at 4501 Richmond street, as follows:
ALL THAT CERTAIN lot or piece of ground situate in the Forty-fifth Ward of the City of Philadelphia and described in accordance with a Survey and Plan of Property made by John Reilly, Surveyor and Regulator of the Eighth Survey District, dated August 12, 1988, as follows:
Parcel A
BEGINNING at a point on the northeasterly side of Orthodox street (sixty feet wide) at the distance of seventy-seven feet five and seven-eighths inches from the southeasterly side of Garden street (forty feet wide); thence extending from said beginning point north fifty-seven degrees thirty-five minutes thirty-seven seconds east along a line the distance of seven hundred seventy-three feet five and three-eighths inches to a point; thence extending north twenty-seven degrees forty-nine minutes eight seconds west the distance of seventy-seven feet eight and seven-eighths inches to a point on the southeasterly side of said Garden street; thence extending north twenty-seven degrees forty-nine minutes eight seconds west along a line within the bed of Lefevre street (sixty feet wide) the distance of four hundred seventy-seve...
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