Authorizing the Philadelphia Land Bank to dispose of 423-27, 429-39 (incl. 429-39 Rear) East Ashmead Street; 226, 260, 278, 313 (a/k/a 313-15) East Bringhurst Street; 49 East Earlham Street; 4635 Germantown Avenue; 30 Good Street; 5608, 5618, 5619, 5642, 5669 Heiskell Street; 4946 Keyser Street; 5514, 5515, 5642 Morton Street; 6672, 6674 Musgrave Street; 53 East Pastorius Street; 207 East Penn Street; 248 East Phil Ellena Street; 42, 44 Reger Street; 35 East Seymour Street; 227, 261, 263 East Sharpnack Street; 218, 326, 342, 343 Shedaker Street; 4951, 4957, 4961, 4975 Sheldon Street; 111, 112 East Springer Street; and 4925, 5222 Wakefield Street located in the 8th 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, Subsection 16-404(3)(f) of The Philadelphia Code requires compliance with

Subsection 16-601(1) of The Philadelphia Code; and

WHEREAS, Subsection 16-601(1)(c) of The Philadelphia Code provides that a material change to the project plans requires Council’s prior approval by resolution; and

WHEREAS, the project, as approved by Council Resolution No. 240773, is being revised to

increase the sale price for each unit to Two Hundred and Eighty Thousand dollars ($280,000), and increase the affordability levels to at or below One Hundred percent (100%) of the Area Median Income (AMI);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 423-27, 429-39 (incl. 429-39 Rear) East Ashmead Street; 226, 260, 278, 313 (a/k/a 313-15) East Bringhurst Street; 49 East Earlham Street; 4635 Germantown Avenue; 30 Good Street; 5608, 5618, 5619, 5642, 5669 Heiskell Street; 4946 Keyser Street; 5514, 5515, 5642 Morton Street; 6672, 6674 Musgrave Street; 53 East Pastorius Street; 207 East Penn Street; 248 East Phil Ellena Street; 42, 44 Reger Street; 35 East Seymour Street; 227, 261, 263 East Sharpnack Street; 218, 326, 342, 343 Shedaker Street; 4951, 4957, 4961, 4975 Sheldon Street; 111, 112 East Springer Street; and 4925, 5222 Wakefield Street will be eligible for participation

in the Neighborhood Preservation Initiative’s Turn the Key program as revised; 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 under the revised project requirements to 423-27, 429-39 (incl. 429-39 Rear) East Ashmead Street; 226, 260, 278, 313 (a/k/a 313-15) East Bringhurst Street; 49 East Earlham Street; 4635 Germantown Avenue; 30 Good Street; 5608, 5618, 5619, 5642, 5669 Heiskell Street; 4946 Keyser Street; 5514, 5515, 5642 Morton Street; 6672, 6674 Musgrave Street; 53 East Pastorius Street; 207 East Penn Street; 248 East Phil Ellena Street; 42, 44 Reger Street; 35 East Seymour Street; 227, 261, 263 East Sharpnack Street; 218, 326, 342, 343 Shedaker Street; 4951, 4957, 4961, 4975 Sheldon Street; 111, 112 East Springer Street; and 4925, 5222 Wakefield Street pursuant to Chapter 16-700 of The Philadelphia Code and

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

et seq

.

End