Resolution 141003

..Title Approving the assignment agreement of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of the New Kensington-Fishtown Urban Renewal Area, identified by house number and street address as 2414 East Gordon street; and authorizing the Redevelopment Authority to execute the assignment agreement with 2412 E. Gordon Street, L.L.C. and to take such action as may be necessary to effectuate the assignment agreement. ..Body WHEREAS, City Council passed resolution number 140546 on June 12, 2014, which approved the redevelopment contract (hereinafter "Redevelopment Contract") between the Philadelphia Redevelopment Authority (hereinafter "Redevelopment Authority") and Andrew Yaffe (hereinafter "Original Redeveloper") for the Original Redeveloper to redevelop a portion of the New Kensington-Fishtown Urban Renewal Area (hereinafter "New Kensington-Fishtown"), identified by house number and street address as 2414 East Gordon street (the "Property"); and WHEREAS, Subsequently, the Original Redeveloper requested the Redevelopment Authority to assign the Redevelopment Contract to 2412 E. Gordon Street, L.L.C. (hereinafter "Redeveloper"); and WHEREAS, The Redevelopment Authority has prepared an assignment agreement (hereinafter "Assignment Agreement") between the Redevelopment Authority, the Original Redeveloper and the Redeveloper to assign the Redevelopment Contract to the Redeveloper; and WHEREAS, The Redevelopment Contract and City Council ordinance number 100101 (hereinafter "Council Ordinance No. 100101") requires City Council to approve an assignment of the Redevelopment Contract; and WHEREAS, In accordance with the Redevelopment Contract and Council Ordinance No. 100101, the Redevelopment Authority has submitted the Assignment Agreement to City Council for approval; and WHEREAS, The area of the Property is bounded as follows: 2414 East Gordon street. ALL THAT CERTAIN lot or piece of ground located in the Thirty-first Ward of the City of Philadelphia with the buildings and appurtenances thereto, if any, situated at a point on the southwesterly side of East Gordon street (forty feet wide) at the distance of one hundred ten feet six and one-half inches southeastward from the southeasterly side of Cedar street; Containing in front or breadth on Gordon street eleven feet three inches and extending of that width in length or depth southwestward between parallel lines at right angles to said Gordon street a distance of seventy-two feet zero inches to the northeasterly side of a four feet zero inch wide alley. The Assignment Agreement is in substantial conformity with the amended urban renewal plan and the amended redevelopment proposal approved by Council; and WHEREAS, 2412 E. Gordon Street, L.L.C. desires to enter into the Assignment Agreement for the Property. RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the assignment agreement submitted by the Philadelphia Redevelopment Authority (hereinafter "Redevelopment Authority") for the redevelopment of that portion of the New Kensington-Fishtown 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 assignment agreement. The Redevelopment Authority is authorized to execute the hereby approved assignment agreement with 2412 E. Gordon Street, L.L.C. (hereinafter "Redeveloper"). The Redevelopment Authority and the Redeveloper are authorized to take such action in substantial conformity to the assignment agreement 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 assignment agreement hereby approved. Accordingly, the Council hereby declares that it will cooperate in helping to carry out the assignment agreement 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 assignment agreement. ..End -2-