Presenter
Presented by Ms. Carlisle
Title
Resolution approving Execution of a Contract For Disposition of Land By and Between the Urban Redevelopment Authority of Pittsburgh and Trammel Crow Investments Inc., for the sale of Parcel E1b (Block 29-J, Lot 200) and the lease of Parcel E1f (Block 29-N, Lot 316) in the Sixteenth Ward of the City of Pittsburgh in Redevelopment Area No. 55, Hot Metal and Sidney Streets, Council District No. 3 (construction of office building and parking lot).
Body
WHEREAS, pursuant to approval by the City Planning Commission on December 17, 1996, and in the manner prescribed by the Urban Redevelopment Law, Act of May 24, 1945, P. L. 991, as amended, Redevelopment Area No. 55 in the Sixteenth Ward of the City of Pittsburgh was certified; and
WHEREAS, the Urban Redevelopment Authority of Pittsburgh has requested authorization to execute a contract for Disposition of Land by and between the Urban Redevelopment Authority of Pittsburgh and Trammel Crow Investments Inc. in connection with the sale of Parcel E1b and the lease of Parcel E1f for $350,000.00 per acre, said property being located in the Sixteenth Ward of the City of Pittsburgh in Redevelopment Area No. 55; and
WHEREAS, the Council of the City of Pittsburgh believes that the proposed Contract is in the best interest of the City of Pittsburgh and desires to give its approval in accordance with the provisions of the Urban Redevelopment Law.
Be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. That execution of a Contract for Disposition of Land by and between the Urban Redevelopment Authority of Pittsburgh and Trammel Crow Investments Inc. in connection with the sale of Parcel E1b and the lease of Parcel E1f for $350,000.00 per acre, said property being located in the Sixteenth Ward of the City of Pittsburgh, be and the same is hereby approved, said Contract being in conformity with the Plan for Redevelopment Area No. 55 in the Sixteenth Ward of the City of Pittsburgh.