Approving the redevelopment contract of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of the Belmont No. 2 Urban Renewal Area, identified by house number and street address as 4050-4066 Haverford avenue; authorizing the Redevelopment Authority to execute the redevelopment contract with 4050 Apartments, LP and to take such action as may be necessary to effectuate the redevelopment contract.

WHEREAS, The Philadelphia Redevelopment Authority (hereinafter "Redevelopment Authority") has prepared and submitted an urban renewal plan and a redevelopment proposal for the redevelopment of the Belmont No. 2 Urban Renewal Area (hereinafter “Belmont No. 2”), which said plan and proposal were approved by Ordinance of the Council on May 21, 1970, as amended; and

WHEREAS, The Redevelopment Authority has prepared a redevelopment contract for a portion of Belmont No. 2, identified by house number and street address as 4050-4066 Haverford avenue (the "Property”). The area of the Property is bounded as follows:

4050-4066 Haverford avenue.

ALL THAT CERTAIN lots or pieces of ground situate in the Sixth Ward of the City of Philadelphia beginning at a point of intersection of the southerly side of Haverford avenue (eighty feet wide) and the easterly side of Budd street (forty feet wide); Thence extending eastward along the southerly side of Haverford avenue a distance of one hundred seventy-nine feet eleven and one-eighth inches to a point on the westerly side of Preston street (fifty feet wide); Thence extending southward along the westerly side of Preston street eighty-four feet eleven and three-quarters inches to a point; Thence extending westward along a line of property now or late of Freeman Hankins, a distance of one hundred eighty feet two inches to a point on the easterly side of said Budd street; Thence extending northward along the easterly side of Budd street eighty-six feet eleven inches to the point of beginning.

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

WHEREAS, 4050 Apartments, LP desires to enter into the said redevelopment contract for the Property.

RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the redevelopment contract submitted by the Philadelphia Redevelopment Authority (hereinafter "Redevelopment Authority") for the redevelopment of that portion of the Belmont No. 2 Urban Renewal Area, 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 4050 Apartments, LP (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 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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