Approving the redevelopment contract of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of the Kingsessing Urban Renewal Area, identified by house number and street address as 6024 Greenway avenue and 6026 Greenway avenue; and authorizing the Redevelopment Authority to execute the redevelopment contract with City Block Acquisition V, LLC 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 Kingsessing Urban Renewal Area (hereinafter "Kingsessing"), which said plan and proposal were approved by Ordinance of the Council on February 13, 2003, as amended; and

WHEREAS, The Redevelopment Authority has prepared a redevelopment contract for a portion of Kingsessing, identified by house number and street address as 6024 Greenway avenue and 6026 Greenway avenue (collectively, the "Property"). The area of the Property is bounded as follows:

6024 Greenway avenue.

ALL THAT CERTAIN lot or piece of ground with the buildings and appurtenances thereto, if any, Situate on the southeasterly side of Greenway avenue in the Fortieth Ward of the City of Philadelphia at the distance of two hundred and thirty-eight feet seven inches southwestwardly from the southwesterly side of Sixtieth street; Containing in front or breadth on the said Greenway avenue twenty feet and extending of that width in length or depth southeastwardly between parallel lines at right angles to the said Greenway avenue eighty feet.

6026 Greenway avenue.

ALL THAT CERTAIN lot or piece of ground with the buildings and appurtenances thereto, if any, Situate on the southeast side of Greenway avenue at the distance of two hundred and fifty-eight feet seven inches southwestward from the southwest side of Sixtieth street in the Fortieth Ward of the City of Philadelphia; Containing in front or breadth on the said Greenway avenue twenty feet and extending of that width in length or depth southeastwardly between parallel lines at right angles to the said Greenway avenue eighty feet.

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

WHEREAS, City Block Acquisition V, LLC 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 Kingsessing 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 City Block Acquisition V, 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 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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