Authorizing the Commissioner of Public Property to convey a certain tract of land with the buildings and improvements thereon known as 2815 Ridge Avenue, located on the northeast side of Ridge Avenue, to the Philadelphia Authority for Industrial Development for nominal consideration, for further conveyance.

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 convey to the Philadelphia Authority for Industrial Development, for nominal consideration, a certain tract of land with the buildings and improvements thereon known as 2815 Ridge Avenue, located on the northeast side of Ridge Avenue in the City of Philadelphia, generally described as follows, for further conveyance at fair market value:

ALL THAT CERTAIN lot or piece of ground, with the building and improvements thereon, situate in the Thirty-second Ward of the City of Philadelphia and described according to a plan thereof made December 10, 1964 by Vincent J. Nero, Surveyor and Regulator of the Third Survey District, as follows:

BEGINNING at a point formed by the intersection of the southeasterly side of Sedgley Avenue (sixty feet wide) and the northeasterly side of Ridge Avenue (sixty feet wide); thence extending along the said southeasterly side of Sedgley Avenue, north fifty degrees fifty-four minutes fifty-seven seconds east, three hundred sixty-three feet one and one-quarter inches to a point; thence extending south thirty-one degrees twenty seven minutes forty two seconds east, sixty-nine feet two inches to a point; thence extending north fifty-eight degrees thirty two minutes eighteen seconds east, twenty-three feet eight inches to a point; thence extending south thirty-one degrees twenty-seven minutes forty-two seconds east, eighty-eight feet two and three-sixteenths inches to a point; thence extending in a southwesterly direction, on a curved line bearing to the left, with a radius of two thousand nine hundred sixty feet, the arc distance of one hundred fifty-five feet nine and one-quarter inches to a point of tangent; thence extending south fifty degrees fifty-four minutes fifty-seven seconds west, two hundred feet ten and five-eighths inches to the northeasterly side of Ridge Avenue aforesaid; thence extending along the said northeasterly side of Ridge Avenue, north forty-two degrees twenty-six minutes forty-four seconds west, one hundred fifty-five feet three and one-quarter inches to the southeasterly side of Sedgley Avenue, the first mentioned point and place of beginning.

CONTAINING in area fifty-six thousand two hundred thirteen and seventy-five one-hundredths square feet.

SECTION 2.

The City Solicitor is hereby authorized to review and 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 interests of the City.

SECTION 3.

Net proceeds from the sale of this property shall be deposited in the City’s General Fund.

End