Title
Authorizing the Parks and Recreation Commissioner to enter into an agreement to release and indemnify the Southeastern Pennsylvania Transportation Authority in connection with access provided by SEPTA to carry out a project for improvements to JFK Plaza, aka "Love Park," at 15th and JFK Boulevard, all under certain terms and conditions.
Body
WHEREAS, the City is owner of that certain lot or parcel of ground and all of the improvements thereon bounded by 15th Street, John F. Kennedy Boulevard, 16th Street and Arch Street ("Property");
WHEREAS, the Property is improved by a park located on the surface, commonly known as "JFK Plaza" or "LOVE Park" ("Park"), which includes an existing welcome center ("Welcome Center"), and a 4-level underground parking garage;
WHEREAS, the City recorded in the Department of Records of the City of Philadelphia an Amended and Restated Declaration of Rights, Covenants, Easements and Restrictions ("Declaration") encumbering the Property, recorded on October 20, 2014, as Document 52840805. The Declaration describes the Property as being divided between the "Affected Area" and the "Southern Portion of the Park," each as defined in the Declaration;
WHEREAS, the Declaration further describes the Affected Area as being divided into three portions: the "Upper Park Area," the "Parking Garage" and the "Lower Park Area," each as defined in the Declaration;
WHEREAS, the portions of the Southern Portion of the Park and the Upper Park Area ("City Property") are under the control and jurisdiction of the City, acting through the Department of Parks and Recreation ("DPR");
WHEREAS, immediately after recording the Declaration, the City conveyed its fee interest in the Parking Garage to UGP- Love Park, LLC ("Garage Owner"), an affiliate of InterPark, LLC ("Developer"), pursuant to a Purchase and Sale Agreement dated as of June 26, 2014 ("Agreement of Sale");
WHEREAS, the City retained title to the Southe...
Click here for full text