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File #: 2002-0232    Version: 1
Type: Resolution Status: Passed Finally
File created: 3/5/2002 In control: Committee on General Services, Technology & the Arts
On agenda: Final action: 6/21/2002
Enactment date: 6/11/2002 Enactment #: 442
Effective date: 6/21/2002    
Title: Resolution providing for the sale of the Public Safety Building to PNC Financial Services Group for the sum of $4,200,000.00 plus $150,000.00 for cash and/or performance of space allocation analysis for the City. Also, approximately $300,000.00 of estimated value of fixtures and equipment will be removed by the City from the Public Safety Building prior to sale. Sale will be subject to proper closing costs and pro-rations and providing for the payment of the cost thereof, and directing that the net proceeds therefrom shall be deposited into Capital Budget Project I, Relocation of Public Safety Building Personnel and/or Construction of a new Public Safety Building. Total cash value is $4,350,000.00
Indexes: MISCELLANEOUS
Presenter
Presented by Mr. Peduto

Title
Resolution providing for the sale of the Public Safety Building to PNC Financial Services Group for the sum of $4,200,000.00 plus $150,000.00 for cash and/or performance of space allocation analysis for the City. Also, approximately $300,000.00 of estimated value of fixtures and equipment will be removed by the City from the Public Safety Building prior to sale. Sale will be subject to proper closing costs and pro-rations and providing for the payment of the cost thereof, and directing that the net proceeds therefrom shall be deposited into Capital Budget Project I, Relocation of Public Safety Building Personnel and/or Construction of a new Public Safety Building. Total cash value is $4,350,000.00

Body
Be it resolved by the Council of the City of Pittsburgh as follows:

Section 1. The Mayor and the Director of the Department of General Services on behalf of the City of Pittsburgh ("City") are hereby authorized to enter into an Agreement or Agreements in form approved by the City Solicitor, providing for the sale of the Public Safety building ("PSB") to PNC Financial Services Group ("PNC") for the sum of Four Million Two Hundred Thousand Dollars ($4,200,000.00) plus One Hundred Fifty Thousand Dollars ($150,000.00) for cash and/or performance of space allocation analysis for the City. Also, approximately Three Hundred Thousand Dollars ($300,000.00) of estimated value of fixtures and equipment will be removed by the City from the PSB prior to sale. Total cash value is Four Million Three Hundred Fifty Thousand Dollars ($4,350,000.00). Sale shall be subject to proper closing costs and pro-rations and providing for the payment of the costs thereof, including but not limited to the following terms and conditions:

a. All real property taxes and utility charges shall be pro-rated as of date of delivery of Deed.
b. All realty transfer taxes payable in connection with the transaction shall be pro-rated as of ...

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