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 372, 702 Cantrell Street; 613, 625, 723 Mercy Street; 737 Tree Street; 535, 537, 602 Winton Street (the “Property”) for the development of homeownership housing; and
WHEREAS, The homes to be developed on 372, 702 Cantrell Street; 737 Tree Street; 535, 537, Winton Street will be 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 372, 702 Cantrell Street, 613, 625, 723 Mercy Street, 737 Tree Street, 535, 537, 602 Winton Street pursuant to Chapter 16-700 of The Philadelphia Code and
Act 153 of 2012, 68 Pa. C.S.A. § 2101,
et seq
.
End