Title
Authorizing the construction, ownership, and maintenance of various encroachments into the right-of-way of Market Street, Filbert Street, 11th Street, 10th Street, 9th Street and 8th Street, and authorizing the assignment of certain rights with respect to an overhead pedestrian bridge above Filbert Street west of the house line of Ninth Street to be assigned, all under certain terms and conditions.
Body
WHEREAS, the City and the Philadelphia Redevelopment Authority (then known as the Redevelopment Authority of the City of Philadelphia and referred to herein as the "Redevelopment Authority") formulated and carried out certain plans for the redevelopment and renewal of properties on the north side of Market Street between 8th and 11th Streets commonly known as the Gallery Mall (the "Gallery Mall"); and
WHEREAS, the City and the Redevelopment Authority have since determined that the Gallery Mall would benefit from further redevelopment by PR Gallery I Limited Partnership, PR 907 Market, LP, and Keystone Philadelphia Properties, LP (together with their respective successors and assigns, collectively, the "Gallery Operator"); and
WHEREAS, by Ordinance No. 1343 approved by the Mayor on June 25, 1974 (the "Prior Ordinance"), City Council granted the Redevelopment Authority certain rights, duties and privileges (collectively, the "Bridge Rights") with respect to an overhead pedestrian bridge (the "Bridge") above Filbert Street west of the house line of Ninth Street; and
WHEREAS, the Prior Ordinance contemplated future assignment of the Bridge Rights by the Redevelopment Authority to the Philadelphia Parking Authority; and
WHEREAS, the Bridge was intended for use in connection with a part of the Gallery Mall commonly known as Gallery I ("Gallery I"); and
WHEREAS, to facilitate redevelopment of the Gallery Mall, City Council desires to authorize the Redevelopment Authority to assign the Bridge Rights to PR Gallery I Limited Partnership (togeth...
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