Resolution 230337

..Title Authorizing the Philadelphia Land Bank to dispose of 2148, 2150, 2154, 2156 E. Birch Street; 2032 E. Lehigh Avenue; 2055, 2057 E. Rush Street; 2154, 2155, 2156, 2157, 2158, 2159, 2160, 2161 E. Stella Street located in the 1st Councilmanic District in accordance with the terms of Chapter 16-700 of The Philadelphia Code. ..Body WHEREAS, Section 16-706 of The Philadelphia Code authorizes the Philadelphia Land Bank ("Land Bank") to convey, exchange, sell, transfer, lease, grant or mortgage interests in real property of the Land Bank in accordance with the requirements of Chapter 16-400 of The Philadelphia Code; and WHEREAS, Subsection 16-404(3)(f) of The Philadelphia Code requires compliance with Subsection 16-601(1) of The Philadelphia Code; and WHEREAS, Subsection 16-601(1)(c) provides that a material change requires Council's prior approval by resolution, and modification of project use is defined as a material change in Subsection 16-601(1)(c)(3); and WHEREAS, The project use as approved by Council Resolution No. 210975 has been revised to change the AMI level for twelve (12) affordable homeownership units from 80% AMI to 90% AMI and to change the sale price for the twelve (12) affordable homes to $264,999; now, therefore, be it RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, AS FOLLOWS: SECTION 1. The Land Bank Board of Directors (the "Board") has determined that it is in the best interest of the Land Bank to convey 2148, 2150, 2154, 2156 E. Birch Street; 2154, 2155, 2156, 2157, 2158, 2159, 2160, 2161 E. Stella Street (collectively, the "Property") for the development of homeownership housing, as revised. The affordable homes will be eligible for participation in the Neighborhood Preservation Initiative's Turn the Key program. ..End