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Approving the redevelopment contract of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of the Model Cities Urban Renewal Area, identified by house number and street address as 871-873 North Opal street; and authorizing the Redevelopment Authority to execute the redevelopment contract with Sracic Real Estate LLC and to take such action as may be necessary to effectuate the redevelopment contract.
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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 Model Cities Urban Renewal Area (hereinafter "Model Cities"), which said plan and proposal were approved by Ordinance of the Council on December 15, 1969, as amended; and
WHEREAS, The Redevelopment Authority has prepared a redevelopment contract for a portion of Model Cities, identified by house number and street address as 871-873 North Opal street (the "Property"). The area of the Property is bounded as follows:
871-873 North Opal street.
Beginning at a point on the easterly side of Opal street, one hundred twenty-three feet zero inches, more or less, south of the southerly side of Poplar street; Thence extending in an easterly direction along a line of property now or late of William D. Gordon, thirty-eight feet zero inches, more or less, to a point; Thence extending in a southerly direction along another line of said Gordon property and along a line of property now or late of Meyer Burstein, twenty-four feet zero inches, more or less, to a point; Thence extending in a westerly direction along another line of said Burstein property, thirty-eight feet zero inches, more or less, to a point on the easterly side of Opal street; Thence extending in a northerly direction along the easterly side of Opal street, twenty-four feet zero inches, more or less, to the place of beginning.
The said redevelo...
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