Bill 010426

..Title Authorizing the Philadelphia Authority for Industrial Development ("PAID"), on behalf of the City, to purchase a certain sixteen (16.0) acre tract of land situate at 9450 Ashton Road, for a consideration not to exceed Nine Hundred Thousand Dollars ($900,000), under and subject to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, PAID, and the Philadelphia Industrial Development Corporation (PIDC). ..Body THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. The Philadelphia Authority for Industrial Development ("PAID"), is hereby authorized to purchase, on behalf of the City, for a consideration not to exceed Nine Hundred Thousand Dollars ($900,000) not including settlement and other incidental costs, the following described parcel of land situate at 9450 Ashton Road, as follows: ALL THAT CERTAIN lot or piece of ground situate in the Fifty-seventh Ward of the City of Philadelphia and described as follows (subject to an official Survey and Plan): BEGINNING at a point on the northwesterly side of Ashton road (sixty four feet wide and variable width) measured south thirty-eight degrees fifty-six minutes forty-two seconds west along the said northwesterly side of Ashton road the distance of six hundred fifty-one feet, nine and one-quarter inches from a point on the southerly end of a cut-off formed by the said northwesterly side of Ashton road and the southwesterly side of Grant avenue (one hundred twenty-four feet wide); thence extending from point of beginning south thirty-eight degrees fifty-six minutes forty-two seconds west along the said northwesterly side of Ashton road seven hundred forty-six feet five and one-quarter inches to a point; thence extending north fifty-one degrees three minutes eighteen seconds west nine hundred thirty-three feet zero inches to a point; thence extending north thirty-eight degrees thirty-six minutes forty-two seconds east seven hundred forty-six feet five and one-quarter inches to a point; thence extending south fifty-one degrees three minutes eighteen seconds east nine hundred thirty-three feet zero inches to a point on the said northwesterly side of Ashton road, being the first mentioned point and place of beginning. TOGETHER with the free and common use, right, liberty and privilege of a certain easement for a railroad designated as Railroad Spur A shown as "Proposed Railroad Easement" on Plan of Property made for ACF Terminal, Inc. by John Reilly, Surveyor and Regulator of the Fourth Survey District, dated 11/29/19084 and extending in a generally southwesterly direction from the herein described premises to the Right of Way of the Consolidated Rail Corporation (formerly The Pennsylvania Railroad). BEING No. 9450 Ashton road. SECTION 2. The City Solicitor is hereby authorized to review and to approve, prior to execution, all instruments and documents necessary to effectuate this Ordinance, which instruments and documents shall contain such terms and conditions as the City Solicitor shall deem necessary and proper to protect the interest of the City and to carry out the purposes of the Philadelphia Industrial and Commercial Development Agreement and this Ordinance. SECTION 3. The Industrial and Commercial Development Revolving Fund shall be charged for the purchase price of the parcels and incidental expenses, including settlement cost. ..End