Title
Approving the assignment agreement of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of the New Kensington-Fishtown Urban Renewal Area, identified by house number and street address as 2414 East Gordon street; and authorizing the Redevelopment Authority to execute the assignment agreement with 2412 E. Gordon Street, L.L.C. and to take such action as may be necessary to effectuate the assignment agreement.
Body
WHEREAS, City Council passed resolution number 140546 on June 12, 2014, which approved the redevelopment contract (hereinafter "Redevelopment Contract") between the Philadelphia Redevelopment Authority (hereinafter "Redevelopment Authority") and Andrew Yaffe (hereinafter "Original Redeveloper") for the Original Redeveloper to redevelop a portion of the New Kensington-Fishtown Urban Renewal Area (hereinafter "New Kensington-Fishtown"), identified by house number and street address as 2414 East Gordon street (the "Property"); and
WHEREAS, Subsequently, the Original Redeveloper requested the Redevelopment Authority to assign the Redevelopment Contract to 2412 E. Gordon Street, L.L.C. (hereinafter "Redeveloper"); and
WHEREAS, The Redevelopment Authority has prepared an assignment agreement (hereinafter "Assignment Agreement") between the Redevelopment Authority, the Original Redeveloper and the Redeveloper to assign the Redevelopment Contract to the Redeveloper; and
WHEREAS, The Redevelopment Contract and City Council ordinance number 100101 (hereinafter "Council Ordinance No. 100101") requires City Council to approve an assignment of the Redevelopment Contract; and
WHEREAS, In accordance with the Redevelopment Contract and Council Ordinance No. 100101, the Redevelopment Authority has submitted the Assignment Agreement to City Council for approval; and
WHEREAS, The area of the Property is bounded as follows:
2414 East Gordon street.
ALL THAT CERTAIN lot or piece of ground locate...
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