Authorizing the Philadelphia Land Bank to dispose of 1811, 2114, 2123 Fernon Street, 1930, 1932 S. Norwood Street, 1629, 1642, 1648, 1652 Point Breeze Avenue, 1824 S. 20th Street, and 1835 S. 22nd Street located in the 2nd 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 Chapter

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) provides that a material change requires Council’s prior approval by resolution;

and

WHEREAS, The twenty-two (22) homeownership units comprised of three (3) single-family homes, ten (10) duplex condominium units and nine (9) triplex condominium units with a mix of two-bedroom and three-bedroom units to be sold at or below 80% of Area Median Income at a sales price of $250,000 approved by Council Resolution No. 230686 has been revised to sixteen (16) homeownership units comprised of six (6) single-family homes and ten (10) duplex condominium units all containing three-bedrooms and two-bathrooms to be sold at or below 80% Area Median Income with a sales price not to exceed $275,000;

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 1811, 2114, 2123 Fernon Street, 1930, 1932 S. Norwood Street, 1629, 1642, 1648, 1652 Point Breeze Avenue, 1824 S. 20th Street, and 1835 S. 22nd Street (collectively, the “Property”) for the development of homeownership housing, as revised. The homes 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

1811, 2114, 2123 Fernon Street, 1930, 1932 S. Norwood Street, 1629, 1642, 1648, 1652 Point Breeze Avenue, 1824 S. 20th Street, and 1835 S. 22nd Street

pursuant to Chapter 16-700 of The Philadelphia Code and Act 153 of 2012, 68 Pa. C.S.A. § 2101,

et seq.

, for the revised project.

End