Title
Authorizing the conveyance of ownership interest in and the assignment of the purchase and development agreement for 19, 21, 23, 25, 27 E. Somerset Street, and 3022 and 3026 N. American Street located in the Seventh Councilmanic District in accordance with the terms of Chapter 16-600 of The Philadelphia Code as it pertains to dispositions of surplus property under Chapter 16-400 and 16-700 of The Philadelphia Code.
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WHEREAS, Section 16-706 of the Philadelphia Code authorizes the Philadelphia Land Bank ("Land Bank") to convey, exchange, sell, transfer, lease, grant or mortgage interests in real property of the Land Bank in accordance with the requirements of Chapter 16-400 of The Philadelphia Code; and
WHEREAS, Section 16-404(3)(f) of The Philadelphia Code requires compliance with Section 16-601(1) of The Philadelphia Code; and
WHEREAS, Section 16-601(1)(d) of The Philadelphia Code provides that, prior to issuance of a Certificate of Completion by the Land Bank, an ownership interest in the redeveloper may not be transferred without Council's prior approval by resolution; and
WHEREAS, Section 16-601(1)(a) of The Philadelphia Code provides that a redevelopment contract may not be assigned to a new redeveloper without Council's prior approval by resolution; and
WHEREAS, the disposition of 19, 21, 23, 25, 27 E. Somerset Street, and 3022 and 3026 N. American Street (the "Premises") to HACE Affordable Housing Corporation ("Developer") for inclusion in a scattered-site affordable housing development (the "Development") to consist of nine (9) affordable single-family homes, was approved by Land Bank Board Resolution 2021-17, adopted on April 13, 2021, and by Council Resolution 210432, adopted on May 13, 2021; and
WHEREAS, Developer has requested and the Land Bank has agreed to permit Developer, following the Land Bank's conveyance of the Premises to Developer, (1) to convey the Premises t...
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