Approving the redevelopment contract and disposition supplement of the Redevelopment Authority of the City of Philadelphia for the redevelopment and urban renewal of a portion of the American Street Industrial Corridor Urban Renewal Area, designated as Parcel No. 7 also sometimes identified by respective house number and street address as 1231 North Third street including 1230 Germantown avenue; and authorizing the Redevelopment Authority to execute the redevelopment contract with CRL2 Associates, LLC and to take such action as may be necessary to effectuate the redevelopment contract and disposition supplement.

WHEREAS,

The Redevelopment Authority of the City of Philadelphia (hereinafter "Redevelopment Authority"), has prepared and submitted an urban renewal plan and a redevelopment proposal for the redevelopment of the American Street Industrial Corridor Urban Renewal Area (hereinafter "American Street"), which said plan and proposal were approved by Ordinance of the Council on June 13, 2002, as amended; and

WHEREAS,

The Redevelopment Authority has prepared a redevelopment contract for a portion of American Street, designated as Parcel No. 7 also sometimes identified by respective house number and street address as 1231 North Third street including 1230 Germantown avenue (the “Parcel”). The area of said Parcel is bounded as follows:

Parcel No. 7 (1231 North Third street including 1230 Germantown avenue).

All that certain lot or piece of ground situated in the Eighteen Ward of the City of Philadelphia beginning at the point of intersection of the east side of Third street (fifty feet wide) and the south side of Thompson street (fifty feet wide); Thence extending eastward along the said side of Thompson street thirty seven feet nine and one-quarter inches to the point of intersection with the west side Germantown avenue (sixty feet wide); Thence extending south along the said side of Germantown avenue sixty nine feet one and three-quarters inches to a point; Thence extending westward on a line at right angles to the said Germantown avenue thirty two feet three-quarter inches to an angle point; Thence extending northwestward on a line at right angles to Third street thirty two feet three-quarters inches to a point on the said side of Third Street; Thence extending northward along the said Third street sixty six feet ten inches to the point of intersection with the said Thompson street, being the first mentioned point and place of beginning.

The said redevelopment contract is in substantial conformity with the urban renewal plan and the redevelopment proposal approved by the Council.

WHEREAS,

CRL2 Associates, LLC desires to enter into the said redevelopment contract for the Parcel; and

WHEREAS,

The Redevelopment Authority has prepared a disposition supplement providing,

inter alia,

for development controls and regulations imposed upon the Parcel.

RESOLVED,

BY THE COUNCIL OF THE CITY OF PHILADELPHIA

, That the redevelopment contract and disposition supplement submitted by the Redevelopment Authority of the City of Philadelphia (hereinafter "Redevelopment Authority") for the redevelopment of that portion of American Street, as hereinabove more particularly described, is hereby approved. City Council authorizes the Redevelopment Authority to proceed with minor changes in substantial conformity with the hereby approved redevelopment contract and disposition supplement. The Redevelopment Authority is authorized to execute the hereby approved redevelopment contract with CRL2 Associates, LLC (hereinafter "Redeveloper"). The Redevelopment Authority and the Redeveloper are authorized to take such action in substantial conformity to the redevelopment contract as may be necessary to carry it out.

RESOLVED

, The Redevelopment Authority and the Redeveloper are authorized to prepare or cause to be prepared for introduction into the Council such ordinances or resolutions as may be necessary for changes in zoning, streets, alleys, public ways, street patterns, location and relocation of public utilities, and related items which are required in order to facilitate and effectuate the redevelopment contract and disposition supplement hereby approved. Accordingly, the Council hereby declares that it will cooperate in helping to carry out the redevelopment contract and disposition supplement and requests the various officials, departments, boards and agencies of the City having administrative responsibilities in the premises likewise to cooperate to such end and to exercise their respective functions and powers in a manner consistent with the redevelopment contract and disposition supplement.

End