Title
Approving the redevelopment contract and disposition supplement of the Redevelopment Authority of the City of Philadelphia for the redevelopment and urban renewal of a portion of the American Street Industrial Corridor Urban Renewal Area, designated as Parcel No. 17 also sometimes identified by respective house number and street address for Parcel No. 17 as 1620-1650 North Fifth street; and authorizing the Redevelopment Authority to execute the redevelopment contract with 1620 N. 5th Street, LLC and to take such action as may be necessary to effectuate the redevelopment contract and disposition supplement.
Body
WHEREAS, The Redevelopment Authority of the City of Philadelphia (hereinafter "Redevelopment Authority"), has prepared and submitted an urban renewal plan and a redevelopment proposal for the redevelopment of the American Street Industrial Corridor Urban Renewal Area (hereinafter "American Street"), which said plan and proposal were approved by Ordinance of the Council on June 13, 2002, as amended; and
WHEREAS, The Redevelopment Authority has prepared a redevelopment contract for a portion of American Street, designated as Parcel No. 17 also sometimes identified by respective house number and street address for Parcel No. 17 as 1620-1650 North Fifth street (hereinafter "Property"). The area of the Property is bounded as follows:
Parcel No. 17 (1620-1650 North Fifth street). All that certain lot or piece of ground situated in the Eighteenth Ward of the City of Philadelphia beginning at a point on the west side of North 5th street (fifty feet wide) at the distance of two hundred ninety four feet five and three-quarters inches northward of the north side of Oxford street (fifty feet wide); Thence extending northward along the west side of the said Fifth street; two hundred ninety four feet five and three-quarters inches, to the southwest corner of the intersection at the said Fifth street and Columbia avenue; Thence extending wes...
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