Title
Approving the redevelopment contract and disposition supplement of the Redevelopment Authority of the City of Philadelphia for the redevelopment and urban renewal of a portion of the American Street Industrial Corridor Urban Renewal Area, designated as Parcel No. 5 also sometimes identified by respective house number and street address as 1221-1225 North Third street; and authorizing the Redevelopment Authority to execute the redevelopment contract with CRL2 Associates, LLC and to take such action as may be necessary to effectuate the redevelopment contract and disposition supplement.
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WHEREAS, The Redevelopment Authority of the City of Philadelphia (hereinafter "Redevelopment Authority"), has prepared and submitted an urban renewal plan and a redevelopment proposal for the redevelopment of the American Street Industrial Corridor Urban Renewal Area (hereinafter "American Street"), which said plan and proposal were approved by Ordinance of the Council on June 13, 2002, as amended; and
WHEREAS, The Redevelopment Authority has prepared a redevelopment contract for a portion of American Street, designated as Parcel No. 5 also sometimes identified by respective house number and street address as 1221-1225 North Third street (the "Parcel"). The area of said Parcel is bounded as follows:
Parcel No. 5 (1221-1225 North Third street).
ALL THAT CERTAIN lot or piece of ground situated in the Eighteenth Ward of the City of Philadelphia beginning at a point on the east side of North Third street (fifty feet wide) at the distance of one hundred two feet one inch south from the south side Thompson street (fifty feet wide); Thence extending eastward on a line at right angles to the said Third street twenty nine feet one and one-half inches to a point; Thence extending southward on a line parallel with the said Third street seventeen feet seven and three-eighths inches to a point; Thence extending eastward on a line at right angles to the said Third...
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