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 entity approved by Council Resolution No. 250428, The Prime Corporation of New Jersey Inc, has been revised to West Kensington Commons 1, LLC; 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 2407, 2409, 2411, 2413, 2415, 2439, 2441, 2443, 2445, and 2447 N 6th St (collectively, the “Property”) for the development of homeownership housing, as revised. The homes to be developed on 2407, 2409, 2411, 2413, 2415, 2439, 2441, 2443, 2445, and 2447 N 6th St 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 2407, 2409, 2411, 2413, 2415, 2439, 2441, 2443, 2445, and 2447 N 6th St 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