Title
Approving a second amendment to the redevelopment contract of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of the Mantua Urban Renewal Area, identified by house number and street address as 3509 Haverford avenue including 3502 Mount Vernon street; and authorizing the Redevelopment Authority to execute the second amendment with Westview Development Partners, LLC and to take such action as may be necessary to effectuate the second amendment.
Body
WHEREAS, The Philadelphia Redevelopment Authority (hereinafter "Redevelopment Authority") has prepared and submitted an urban renewal plan and a redevelopment proposal for the redevelopment of the Mantua Urban Renewal Area (hereinafter "Mantua"), which said plan and proposal were approved by Ordinance of the Council on December 15, 1969, as amended; and
WHEREAS, The Redevelopment Authority prepared a redevelopment contract (hereinafter "Redevelopment Contract") between the Redevelopment Authority and Westview Development Partners, LLC (hereinafter "Redeveloper") for a portion of Mantua, identified by house number and street address as 3509 Haverford avenue including 3502 Mount Vernon street (the "Property"). The Redevelopment Contract was approved by Resolution of the Council as Resolution No. 150709, which was adopted on October 1, 2015; and
WHEREAS, Subsequently, Redeveloper and the Redevelopment Authority entered into a first amendment to the Redevelopment Contract (the "First Amendment") to approve revised plans and extend the commencement and completion dates for construction; and
WHEREAS, Subsequent to the First Amendment, Redeveloper requested the Redevelopment Authority to approve a new limited partner of Redeveloper and a revised ownership structure of Redeveloper that resulted in a transfer greater than ten percent in the legal or equitable interest in the Redeveloper or the stock of the Redeveloper (the "Transfer"); and
WHEREAS, The Red...
Click here for full text