Resolution 240534

..Title Authorizing the Philadelphia Redevelopment Authority to execute and deliver to the Philadelphia Land Bank deeds conveying title to 1234-1240 S. Forty-Seventh Street, 3914 Folsom Street, 3935 Folsom Street, 3936 Folsom Street, and 3938 Folsom Street, located in the Third Councilmanic District, pursuant to the requirements of the Commonwealth Land Bank Act. ..Body WHEREAS, Act 153 of 2012, 68 Pa. C.S.A. � 2101, et seq. (the "Land Bank Act") authorized the City to create a land bank in accordance with the Land Bank Act; and WHEREAS, The City, in Bill No. 130156-A (approved December 18, 2013), authorized the creation of the Philadelphia Land Bank; and WHEREAS, Under Section 2109 of the Land Bank Act, 68 Pa. C.S.A. � 2109(d)(3), a redevelopment authority, with the consent of the local governing body and without a redevelopment contract, may convey title to certain redevelopment authority property to a land bank; and WHEREAS, The properties identified in this Resolution qualify for transfer from the Philadelphia Redevelopment Authority to the Philadelphia Land Bank as provided by Section 2109 of the Land Bank Act; and WHEREAS, The transfer of the properties identified in this Resolution to the Philadelphia Land Bank will promote the public purposes for which the City created the Philadelphia Land Bank; now, therefore, be it RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, AS FOLLOWS: SECTION 1. The Philadelphia Redevelopment Authority is hereby authorized to execute and deliver to the Philadelphia Land Bank, without consideration, deeds conveying title to the properties listed in Exhibit "A" hereto. EXHIBIT "A" 3rd Councilmanic District Properties 1234-40 S. 47th Street 3914 Folsom Street 3935 Folsom Street 3936 Folsom Street 3938 Folsom Street ..End 2