Resolution 200456

..Title Approving the redevelopment contract 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 2451-2453 Frankford avenue; and authorizing the Redevelopment Authority to execute the redevelopment contract with BMK Properties, 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 New Kensington-Fishtown Urban Renewal Area (hereinafter "New Kensington-Fishtown"), which said plan and proposal were approved by Ordinance of the Council on June 13, 1997, as amended; and WHEREAS, The Redevelopment Authority has prepared a redevelopment contract for a portion of New Kensington-Fishtown, identified by house number and street address as 2451-2453 Frankford avenue (the "Property"). The area of the Property is bounded as follows: 2451-2453 Frankford avenue. All that certain lot or piece of ground situated in the Thirty-first Ward of the City of Philadelphia situate at the intersection formed by southeasterly side of Frankford avenue (sixty feet wide) and the northeasterly side of Letterly street (fifty feet wide); Thence extending southeastward along the said Letterly street sixty-two feet two inches to a point; Thence extending northeastward on a line at right angles to said Letterly street sixteen feet three inches to a point; Thence extending further eastward nine feet six and three-sixteenths inches to a point; Thence extending northeastward on a line at right angles to said Letterly street sixteen feet ten and one-half inches to a point; Thence extending eastward on a line at right angles to the said Frankford avenue seventeen feet one and three-eighths inches to a point; Thence extending northeastward on a line at right angles to said Letterly street eighteen feet eight and nine-sixteenths inches to a point; Thence extending northward three and one-sixteenths inches to a point; Thence extending westward on a line at right angles to said Frankford avenue ninety-seven feet five and one-quarter inches to a point on the southeasterly side of Frankford avenue; Thence extending southward along the southeasterly side of said Frankford avenue thirty-eight 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 Council; and WHEREAS, BMK Properties, 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 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 redevelopment contract. The Redevelopment Authority is authorized to execute the hereby approved redevelopment contract with BMK Properties, 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