THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1.
The Commissioner of Public Property, on behalf of the City of Philadelphia, is hereby authorized to execute and deliver to the Redevelopment Authority of the City of Philadelphia ("RDA"), without consideration, a deed or deeds conveying fee simple title to five parcels of City-owned land with the buildings and improvements thereon situated at the northwest corner of Third and Fairmount Streets, more particularly known as 700, 702 and 704 North Third Street and 309 and 311 Fairmount Avenue ("Third and Fairmount Properties") for the purpose of entering into a redevelopment agreement ("Redevelopment Agreement") with the Northern Liberties Neighbors Association or its designee for the Third and Fairmount Properties.
SECTION 2.
The authorization set forth in Section 1 is conditioned upon the Northern Liberties Neighbors Association or its designee ("NLNA") obtaining financing to develop, rehabilitate, and/or improve part or all of the Third and Fairmount Properties by June 30, 2004 subject to the terms and conditions of the Redevelopment Agreement.
SECTION 3.
The authorization set forth in Section 1 is further conditioned upon the NLNA executing a Redevelopment Agreement with RDA and agreeing to maintain and use the Third and Fairmount Properties and any improvements thereon for NLNA's offices and a community center pursuant to the terms and conditions of the Redevelopment Agreement.
SECTION 4.
The City Solicitor is hereby authorized to review and to approve all instruments and documents necessary to effectuate this Ordinance, which instruments and documents shall contain such terms and conditions as the City Solicitor shall deem necessary and proper to protect the interest of the City and to carry out the purposes of this Ordinance.
End