Resolution 120499

..Title Approving the sale by the Philadelphia Authority for Industrial Development of 6975 Norwitch Drive, in the Eastwick Urban Renewal Area - Stage "B" Industrial, containing approximately seven tenths of an acre, to SDA Car Rental LLC. ..Body WHEREAS, The Council of the City of Philadelphia, by Bill Number 315, approved September 28, 1972, has authorized and approved the execution of a Redevelopment Agreement between the Redevelopment Authority of the City of Philadelphia and the Philadelphia Industrial Development Corporation, PIDC-Financing Corporation, and the Philadelphia Authority for Industrial Development, for the redevelopment and urban renewal of the Eastwick Urban Renewal Area - Stage "B" Industrial; and WHEREAS, The Philadelphia Authority for Industrial Development has purchased from the Redevelopment Authority of the City of Philadelphia the required land under the terms and conditions of the aforesaid Redevelopment Agreement; and WHEREAS, City Council by Section 3 of Bill Number 476, approved February 7, 1977, did reserve unto itself the Right of Approval, by Resolution, for each transaction completed by PAID under the terms and conditions of the aforesaid Redevelopment Agreement; and WHEREAS, SDA Car Rental LLC, currently located in Philadelphia, Pennsylvania, proposes to purchase 6975 Norwitch Drive in the Eastwick Urban Renewal Area - Stage "B" Industrial, and construct a two thousand five hundred square foot building for use as a car rental facility; and WHEREAS, SDA Car Rental LLC, Inc. proposes to create fifteen new jobs; now, therefore, BE IT RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, THAT the sale by the Philadelphia Authority for Industrial Development to SDA Car Rental LLC of 6975 Norwitch Drive in the Eastwick Urban Renewal Area - Stage "B" Industrial, containing approximately seven tenths of an acre, is hereby approved so that the redevelopment and urban renewal of the Eastwick Urban Renewal Area may proceed in a manner most beneficial to the City of Philadelphia. ..End