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Approving the action of the Boards of the Philadelphia Industrial Development Corporation and the Philadelphia Authority for Industrial Development to sell Parcel E20, located at 70th Street and Norwich Drive in the Eastwick Urban Renewal Area - Stage "A" Industrial, containing approximately three and four-tenths acres to XTL, Inc.
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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, XTL, Inc., proposes to purchase Parcel E-20, located at 70th Street and Norwitch Drive in the Eastwick Urban Renewal Area - Stage "A" Industrial, and construct a four thousand square foot building for use as a warehouse and trucking terminal; and
WHEREAS, XTL, Inc., proposes to create thirty new jobs; and
WHEREAS, PIDC and PAID, upon the unconditional approval of their Boards at their meetings of October 12, 2004, and upon review by the Redevelopment Authority of the City of Philadelphia, have agreed to sell to XTL, Inc. Parcel E-20 in the Eastwick Urban Renewal Area - Stage "A" Industrial, containing approximately three and four-tenths acres, more fully described as follows:
ALL THA...
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