Title
Approving the action of the Boards of the Philadelphia Industrial Development Corporation and the Philadelphia Authority for Industrial Development to sell Parcel F-15, an approximately seven-acre parcel of vacant land at 7000 Holstein Avenue in the Eastwick Urban Renewal Area - Stage "A" Industrial, to The Cacciutti Organization.
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, The Cacciutti Organization, proposes to purchase Parcel F-15 containing approximately seven acres of vacant land at 7000 Holstein Avenue in the Eastwick Urban Renewal Area - Stage "A" Industrial, and construct an industrial complex containing three connected buildings with a total of seventy-eight thousand square feet of warehouse and office space; and
WHEREAS, The Cacciutti Organization proposes to create one hundred fifty jobs as a result of this development; and
WHEREAS, PIDC and PAID, upon the unconditional approval of their Boards at their meetings of March 23, 2004, and upon review by the Redevelopment Authority of the City of Philadelphia, have agreed to sell to The Cacciutti Organ...
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