Approving the action of the Boards of the Philadelphia Industrial Development Corporation and the Philadelphia Authority for Industrial Development to sell Parcel E-17A, in the Eastwick Urban Renewal Area - Stage "A" Industrial, containing approximately one-half acre to JLD, Inc.

WHEREAS, The Council of the City of Philadelphia, by Ordinance Number 916, approved November 20, 1973, has authorized and approved the execution of a Redevelopment Agreement between the Redevelopment Authority of the City of Philadelphia and the Philadelphia Industrial Development Corporation, PIDC-Financing Corporation, and the Philadelphia Authority for Industrial Development (hereinafter "Redeveloper") for the redevelopment and urban renewal of the Eastwick Urban Renewal Area - Stage "A" Industrial; and

WHEREAS, The Philadelphia Authority for Industrial Development has purchased from the Redevelopment Authority of the City of Philadelphia the required land under the terms and conditions of the aforesaid Redevelopment Agreement; and

WHEREAS, City Council did reserve unto itself the Right of Approval, by Resolution, for each transaction completed by the Redeveloper under the terms and conditions of the aforesaid Redevelopment Agreement; and

WHEREAS, JLD, Inc., T/A Thermo King of Philadelphia, the adjacent land owner, sells and services refrigeration and air conditioning units for transportation equipment; and

WHEREAS, JLD, Inc. proposes to use Parcel E-17A in the Eastwick Urban Renewal Area - Stage "A" Industrial, for parking and expansion of its shop facility and increase employment from twenty-eight to thirty-five jobs; and

WHEREAS, The Redeveloper, upon the unconditional approval of its Executive Boards and review by the Redevelopment Authority of the City of Philadelphia, has agreed to sell to JLD, Inc. Parcel E-17A in the Eastwick Urban Renewal Area - Stage "A" Industrial, containing approximately one-half acre, more fully described as follows:

ALL THAT CERTAIN parcel of ground Situate in the Fortieth Ward of the City of Philadelphia and described as follows (subject to an official survey):

BEGINNING at a point on the northwesterly side of Holstein Avenue (one hundred feet wide), said point being located northeastwardly along the arc of a circle curving to the right having a radius of six hundred ninety-four and thirty-three one-thousandths feet the arc distance of one hundred seventy-three and seven hundred one-thousandths feet from the northeasterly end of a curve having a radius of fifty feet and the arc distance of seventy-three and five hundred fifty-nine one-thousandths feet connecting the northwesterly side of said Holstein Avenue and the northeasterly side of Seventy-fourth Street (sixty-eight feet wide); thence extending from said beginning point north thirty-three degrees sixteen minutes fifty seconds west along a property line the distance of three hundred sixty and one hundred ninety one-thousandths feet to a point; thence extending north thirty-six degrees forty minutes eighteen seconds east along a line the distance of sixty-three and eight hundred seventy one-thousandths feet to a point; thence extending south thirty-three degrees sixteen minutes fifty seconds west along a line the distance of three hundred eighty-four and six hundred eighty-three one-thousandths feet to a point on the northwesterly side of said Holstein Avenue; thence extending southwestwardly along the northwesterly side of said Holstein Avenue along the arc of a circle curving to the left having a radius of six hundred ninety-four and thirty-three one-thousandths feet the arc distance of sixty and seventy-five one thousandths feet to a point on the northwesterly side of said Holstein Avenue, being the first mentioned point and place of beginning.

BEING a proposed (sixty feet wide) expansion area of #7301 Holstein Avenue containing twenty-two thousand three hundred twenty square feet or zero and five thousand one hundred twenty-four ten-thousandths acres; now therefore

RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That this transaction for the land described herein is hereby approved so that the redevelopment and urban renewal of the Eastwick Urban Renewal Area may proceed in a manner most beneficial to the City of Philadelphia.

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