Approving the redevelopment contract of the Redevelopment Authority of the City of Philadelphia for the redevelopment and urban renewal of a portion of the Old City Redevelopment Area, Unit No. 2 designated as Parcel No. 3, also sometimes identified by house number and street addresses as 149 South Hancock street; authorizing the Redevelopment Authority to execute the redevelopment contract with 149 S. Hancock Street Associates, Inc. and to take such action as may be necessary to effectuate the redevelopment contract.

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Approving the redevelopment contract of the Redevelopment Authority of the City of Philadelphia for the redevelopment and urban renewal of a portion of the Old City Redevelopment Area, Unit No. 2 designated as Parcel No. 3, also sometimes identified by house number and street addresses as 149 South Hancock street; authorizing the Redevelopment Authority to execute the redevelopment contract with 149 S. Hancock Street Associates, Inc. and to take such action as may be necessary to effectuate the redevelopment contract.

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WHEREAS,

The City Planning Commission of the City of Philadelphia (hereafter “Commission”) has on January 8, 1963, certified the Center City Redevelopment Area as a redevelopment area; and the Commission has completed a detailed redevelopment area plan for the Center City Redevelopment Area dated February 19, 1963, as superseded on December 19, 1967, as amended; and

WHEREAS

, The Redevelopment Authority of the City of Philadelphia (hereafter "Redevelopment Authority") has prepared and submitted a redevelopment proposal, dated September, 1975, as revised, for the redevelopment of a portion of the Center City Redevelopment Area designated as Old City Unit No. 2 (hereinafter “Old City No. 2”) which said proposal has been approved by Ordinance of the Council, as amended; and

WHEREAS

, The Redevelopment Authority has prepared a redevelopment contract for a portion of Old City No. 2, designated as Parcel No. 3, also sometimes identified by house number and street address as 149 South Hancock street (“hereinafter the Property”). The area of said Property is bounded as follows:

Parcel No. 3 (149 South Hancock street).

ALL THAT CERTAIN lot or piece of ground situated in the Fifth Ward of the City of Philadelphia beginning at a point on the east side of Hancock street (ten feet wide) at the distance of eighty two feet one and one-quarter inches northward from the north side of Walnut street (fifty feet wide); Thence extending eastward on a line at right angles with the said Hancock street and along the north side of a certain nine feet one and one-half inches wide alley that extends westward into the said Hancock street the distance of fifty one feet seven inches to a point; Thence extending northward on a line parallel with the said Hancock street and leaving said alley, twenty feet ten and one-half inches to a point; Thence extending westward on a line parallel with the said Walnut street fifty one feet eight inches to a point on the said side of Hancock street; Thence extending southward along the said side of Hancock street twenty feet one and one-half inches to the first mentioned point and place of beginning.

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

WHEREAS,

149 S. Hancock Associates, Inc. desire to enter into the said redevelopment contract for the Property; and

RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA

, That the redevelopment contract submitted by the Redevelopment Authority of the City of Philadelphia (hereinafter "Redevelopment Authority") for the redevelopment of that portion of Old City No. 2, 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. The Redevelopment Authority is authorized to execute the hereby approved redevelopment contract with 149 S. Hancock Associates, Inc. (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 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.

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