Authorizing the Philadelphia Land Bank to dispose of 650 N. Conestoga Street, 658 N. Conestoga Street, 662 N. Conestoga Street, 5436 W. Girard Avenue, 5552 Harmer Street, 653 N. Sickels Street, 534 -36 N. 54th Street, 538-40 N. 54th Street, 546 N. 54th Street, 550 N. 54th Street, 623-33 N. 55th Street located in the 4th Councilmanic District in accordance with the terms of Chapter 16-700 of The Philadelphia Code.

WHEREAS, Section 16-706 of The Philadelphia Code authorizes the Philadelphia Land Bank (“Land Bank”) to convey, exchange, sell, transfer, lease, grant or mortgage interests in real property of the Land Bank in accordance with the requirements of

16-400

of The Philadelphia Code; and

WHEREAS, The Land Bank Board of Directors (the “Board”) has determined that it is in the best interest of the Land Bank to convey

650 N. Conestoga Street, 658 N. Conestoga Street, 662 N. Conestoga Street, 5436 W. Girard Avenue, 5552 Harmer Street, 653 N. Sickels Street,

534 -36 N. 54th Street, 538-40 N. 54th Street, 546 N. 54th Street, 550 N. 54th Street, 623-33 N. 55th Street (collectively, the “Property”) to Civetta 1, LLC (the “Purchaser”) for the purchase price of Three Thousand Two Hundred and 00/100 Dollars ($3,200.00) for the development of thirty-seven (37) homes to be sold to households with an income at or below Eighty percent (80%) of Area Median Income and therefore eligible for participation in the Neighborhood Preservation Initiative’s Turn the Key program; now, therefore, be it

RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, AS FOLLOWS:

SECTION 1. The Philadelphia Land Bank is hereby authorized to transfer title to

650 N. Conestoga Street, 658 N. Conestoga Street, 662 N. Conestoga Street, 5436 W. Girard Avenue, 5552 Harmer Street, 653 N. Sickels Street,

534 -36 N. 54th Street, 538-40 N. 54th Street, 546 N. 54th Street, 550 N. 54th Street, 623-33 N. 55th Street to Civetta 1, LLC pursuant to Chapter 16-700 of The Philadelphia Code and

Act 153 of 2012, 68 Pa. C.S.A. § 2101,

et seq

.

End