Resolution 140537

..Title Approving the redevelopment contract of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of the Eastwick Urban Renewal Area, identified by house number and street address as 7936-7940 Buist avenue and authorizing the Redevelopment Authority to execute the redevelopment contract with Buist Avenue, LLC and to take such action as may be necessary to effectuate the redevelopment contract. ..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 Eastwick Urban Renewal Area (hereinafter "Eastwick"), which said plan and proposal were approved by Ordinance of the Council on May 26, 1958, as amended; and WHEREAS, The Redevelopment Authority has prepared a redevelopment contract for a portion of Eastwick, identified by house number and street address as 7936-7940 Buist avenue (the "Property"). The area of the Property is bounded as follows: 7936-7940 Buist avenue. ALL THAT CERTAIN lot or piece of ground with the buildings and appurtenances thereto, if any, situate in the Fortieth Ward of the City of Philadelphia beginning at a point formed by the intersection of the southerly side of Buist avenue (seventy feet wide) and the easterly side of Eightieth street (seventy feet wide); Thence extending eastward along the southerly side of said Buist avenue, one hundred feet to a point; Thence extending in a southward direction along a line parallel to said Eightieth street, one hundred twenty seven and five tenths feet to a point; Thence extending westward along a line parallel to said Buist avenue, one hundred feet to a point on the easterly side of said Eightieth street; Thence extending northward along the easterly side of said Eightieth street, one hundred twenty seven and five tenths feet to the first mentioned point and place of beginning. The said redevelopment contract is in substantial conformity with the amended urban renewal plan and the amended redevelopment proposal approved by the Council; and WHEREAS, Buist Avenue, LLC desires to enter into the said redevelopment contract for the Property. RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the redevelopment contract submitted by the Philadelphia Redevelopment Authority (hereinafter "Redevelopment Authority") for the redevelopment of that portion of the Eastwick Urban Renewal Area, as hereinabove more particularly described, is hereby approved. City Council authorizes the Redevelopment Authority to proceed with minor changes in substantial conformity with the hereby approved redevelopment contract. The Redevelopment Authority is authorized to execute the hereby approved redevelopment contract with Buist Avenue, LLC (hereinafter "Redeveloper"). The Redevelopment Authority and the Redeveloper are authorized to take such action in substantial conformity to the redevelopment contract as may be necessary to carry it out. RESOLVED, The Redevelopment Authority and the Redeveloper are authorized to prepare or cause to be prepared for introduction into the Council such ordinances or resolutions as may be necessary for changes in zoning, streets, alleys, public ways, street patterns, location and relocation of public utilities, and related items which are required in order to facilitate and effectuate the redevelopment contract hereby approved. Accordingly, the Council hereby declares that it will cooperate in helping to carry out the redevelopment contract and requests the various officials, departments, boards and agencies of the City having administrative responsibilities in the premises likewise to cooperate to such end and to exercise their respective functions and powers in a manner consistent with the redevelopment contract. ..End M:\City Council\Resolution\EASTWICK\East_Res_006 (Buist Avenue LLC).doc 1