Resolution 250509

..Title Authorizing the Philadelphia Land Bank to dispose of 423-27, 429-39 (incl. 429-39 Rear) East Ashmead Street; 226, 260, 278, 313 (a/k/a 313-15) East Bringhurst Street; 49 East Earlham Street; 4635 Germantown Avenue; 30 Good Street; 5608, 5618, 5619, 5642, 5669 Heiskell Street; 4946 Keyser Street; 5514, 5515, 5642 Morton Street; 6672, 6674 Musgrave Street; 53 East Pastorius Street; 207 East Penn Street; 248 East Phil Ellena Street; 42, 44 Reger Street; 35 East Seymour Street; 227, 261, 263 East Sharpnack Street; 218, 326, 342, 343 Shedaker Street; 4951, 4957, 4961, 4975 Sheldon Street; 111, 112 East Springer Street; and 4925, 5222 Wakefield Street located in the 8th 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 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) of The Philadelphia Code provides that a material change to the project plans requires Council's prior approval by resolution; and WHEREAS, the project, as approved by Council Resolution No. 240773, is being revised to increase the sale price for each unit to Two Hundred and Eighty Thousand dollars ($280,000), and increase the affordability levels to at or below One Hundred percent (100%) of the Area Median Income (AMI);and WHEREAS, the Land Bank Board of Directors (the "Board") has determined that it is in the best interest of the Land Bank to convey 423-27, 429-39 (incl. 429-39 Rear) East Ashmead Street; 226, 260, 278, 313 (a/k/a 313-15) East Bringhurst Street; 49 East Earlham Street; 4635 Germantown Avenue; 30 Good Street; 5608, 5618, 5619, 5642, 5669 Heiskell Street; 4946 Keyser Street; 5514, 5515, 5642 Morton Street; 6672, 6674 Musgrave Street; 53 East Pastorius Street; 207 East Penn Street; 248 East Phil Ellena Street; 42, 44 Reger Street; 35 East Seymour Street; 227, 261, 263 East Sharpnack Street; 218, 326, 342, 343 Shedaker Street; 4951, 4957, 4961, 4975 Sheldon Street; 111, 112 East Springer Street; and 4925, 5222 Wakefield Street will be eligible for participation in the Neighborhood Preservation Initiative's Turn the Key program as revised; now, therefore, be it RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, AS FOLLOWS: SECTION 1. The Philadelphia Land Bank is hereby authorized to transfer title under the revised project requirements to 423-27, 429-39 (incl. 429-39 Rear) East Ashmead Street; 226, 260, 278, 313 (a/k/a 313-15) East Bringhurst Street; 49 East Earlham Street; 4635 Germantown Avenue; 30 Good Street; 5608, 5618, 5619, 5642, 5669 Heiskell Street; 4946 Keyser Street; 5514, 5515, 5642 Morton Street; 6672, 6674 Musgrave Street; 53 East Pastorius Street; 207 East Penn Street; 248 East Phil Ellena Street; 42, 44 Reger Street; 35 East Seymour Street; 227, 261, 263 East Sharpnack Street; 218, 326, 342, 343 Shedaker Street; 4951, 4957, 4961, 4975 Sheldon Street; 111, 112 East Springer Street; and 4925, 5222 Wakefield Street pursuant to Chapter 16-700 of The Philadelphia Code and Act 153 of 2012, 68 Pa. C.S.A. � 2101, et seq. ..End 2