Title
Approving the First Amendment to License Agreement of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of the Market Street East Urban Renewal Area, for a certain pedestrian bridge located between Tenth and Eleventh streets above Filbert street, including air rights; and authorizing the Redevelopment Authority to execute the First Amendment to License Agreement with Keystone Philadelphia Properties, L.P. and to take such action as may be necessary to effectuate the First Amendment to License Agreement.
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 Market Street East Urban Renewal Area (hereinafter "Market East"), which said plan and proposal were approved by Ordinance of the Council on September 16, 1969, as amended; and
WHEREAS, The Redevelopment Authority and Keystone Philadelphia Properties, L.P. (hereinafter "Licensee") entered into a License Agreement dated March 19, 2021, but effective March 26, 2021 (the "License Agreement"), for a portion of Market East, whereby the Licensee was granted the right to use and maintain a certain pedestrian bridge located between Tenth and Eleventh streets above Filbert street (hereinafter, the "Pedestrian Bridge") as a means of access between Licensee's property located at 1001 Market street and the Parametric Garage located at 1027 Filbert street for a period of less than one (1) year. The area of the Pedestrian Bridge is bounded as follows:
All that certain parcel of ground situate in the City of Philadelphia, Commonwealth of Pennsylvania, being more particularly bounded and described as follows: Beginning at a point on the easterly right-of-way line of Tenth street, (fifty-five and seven hundred eighty-one thousandths feet wide), said point being located north eleven degrees, one minute and zero seconds east, a ...
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