Title
Approving the purchase option agreement, redevelopment contract and disposition supplement of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of Nicetown Urban Renewal Area, designated as Parcel Nos. 47, 48 and 49, and also sometimes identified by house numbers and street addresses for Parcel No. 47 as 4413-4421 Germantown avenue including 4428 North Uber street, for Parcel No. 48 as 4428-4470 Germantown avenue and for Parcel No. 49 as 4423-4451 Germantown avenue; authorizing the Redevelopment Authority to execute the redevelopment contract with Nicetown Court II Housing Partners, LP and to take such action as may be necessary to effectuate the purchase option agreement, redevelopment contract and disposition supplement.
Body
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 Nicetown Urban Renewal Area (hereinafter "Nicetown"), which said plan and proposal were approved by Ordinance of the Council on January 21, 1966, as amended; and
WHEREAS, The Redevelopment Authority has prepared a purchase option agreement for a portion of Nicetown, designated as Parcel Nos. 47, 48 and 49, and also sometimes identified by house numbers and street addresses for Parcel No. 47 as 4413-4421 Germantown avenue including 4428 North Uber street, for Parcel No. 48 as 4428-4470 Germantown avenue and for Parcel No. 49 as 4423-4451 Germantown avenue (hereinafter the "Properties") to permit Nicetown Court II Housing Partners, LP (hereinafter the "Redeveloper") to perform inspections, investigations, surveys and testing on the Properties with the right to thereafter enter into a redevelopment contract for purchase and development of the Properties.
WHEREAS, The Redevelopment Authority has prepared a disposition supplement providing, inter alia, for development controls and regulations...
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