WHEREAS, Woods Smith Holdings, LLC is the owner of approximately two (2) acres of land in Philadelphia County ("Property") more specifically described in Exhibit "A";
WHEREAS, the City seeks to purchase the Property; now, therefore
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. The Commissioner of Public Property and the Director of Commerce are hereby authorized to acquire on behalf of the City, by amicable negotiation or condemnation or otherwise, approximately two acres of property located at 8365 Enterprise Avenue, as more specifically described in Exhibit “A.”
SECTION 2. The conditions and restrictions set forth in numbered paragraph 1 on page 3 of that certain Indenture dated August 6, 1962 by and between the Philadelphia Redevelopment Authority (fka the Redevelopment Authority of the City of Philadelphia) as Grantor, and Philadelphia Authority for Industrial Development, as Grantee, are, pursuant to the requirements of that paragraph, hereby removed and rescinded in their entirety, and the Property may hereinafter be used free of any restriction set forth in that paragraph.
SECTION 3. 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 interests of the City of Philadelphia and carry out the purposes for this Ordinance.
End