City of Philadelphia - File #: 060550

• File #: 060550
• Version: 0
• Type: Resolution
• Status: ADOPTED
• File created: 6/8/2006
• In control: CITY COUNCIL
• Final action: 6/8/2006
• Title: Approving the action of the Boards of the Philadelphia Industrial Development Corporation and the Philadelphia Authority for Industrial Development to sell Parcel E-24, located at 3275 South Seventy-sixth Street in the Eastwick Urban Renewal Area - Stage "A" Industrial, containing approximately two acres to VJ Holdings, LLC, or its nominee.
• Sponsors: Council President Verna, Council President Verna, Councilmember Blackwell, Councilmember Blackwell
• Indexes: EASTWICK URBAN RENEWAL AREA, PAID, PIDC

Date	Ver.	Action By	Action	Result	Tally
6/8/2006	0	CITY COUNCIL	ADOPTED
6/8/2006	0	CITY COUNCIL	ADOPTED
6/8/2006	0	CITY COUNCIL	READ
6/8/2006	0	CITY COUNCIL	READ
6/8/2006	0	CITY COUNCIL	Introduced (By Request) and Referred	Pass
6/8/2006	0	CITY COUNCIL	Introduced (By Request) and Referred	Pass

Title
Approving the action of the Boards of the Philadelphia Industrial Development Corporation and the Philadelphia Authority for Industrial Development to sell Parcel E-24, located at 3275 South Seventy-sixth Street in the Eastwick Urban Renewal Area - Stage "A" Industrial, containing approximately two acres to VJ Holdings, LLC, or its nominee.
Body
WHEREAS, The Council of the City of Philadelphia, by Bill Number 916, approved November 20, 1973, has authorized and approved the execution of a Redevelopment Agreement between the Redevelopment Authority of the City of Philadelphia and the Philadelphia Industrial Development Corporation, PIDC-Financing Corporation, and the Philadelphia Authority for Industrial Development, for the redevelopment and urban renewal of the Eastwick Urban Renewal Area - Stage "A" Industrial; and

WHEREAS, The Philadelphia Authority for Industrial Development has purchased from the Redevelopment Authority of the City of Philadelphia the required land under the terms and conditions of the aforesaid Redevelopment Agreement; and

WHEREAS, City Council did reserve unto itself the Right of Approval, by Resolution, for each transaction completed by PAID under the terms and conditions of the aforesaid Redevelopment Agreement; and

WHEREAS, VJ Holdings, LLC, or its nominee, proposes to purchase Parcel E-24, located at 3275 South Seventy-sixth street in the Eastwick Urban Renewal Area - Stage "A" Industrial, and construct a thirty-two thousand one hundred square foot food processing facility; and

WHEREAS, VJ Holdings, LLC, or its nominee, proposes to create thirty new jobs and relocate six existing jobs from its current location in Delaware County; and

WHEREAS, PIDC and PAID, upon the unconditional approval of their Boards at their meetings of April 25, 2006, and upon review by the Redevelopment Authority of the City of Philadelphia, have agreed to sell to VJ Holdings, LLC or its nominee, Parcel E-24 in the Eastwick Urba...