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Resolution approving execution of a Contract for Disposition by Sale of Land between the Urban Redevelopment Authority of Pittsburgh or an Urban Redevelopment Authority of Pittsburgh affiliate and University of Pittsburgh - of the Commonwealth System of Higher Education, or a related entity, for the sale of Block 29-B, Lots 306 and 308, in the 4th Ward of the City of Pittsburgh (Council District No. 3) at no cost to the City.
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WHEREAS, the Urban Redevelopment Authority of Pittsburgh or an Urban Redevelopment Authority of Pittsburgh affiliate has requested authorization to execute a Contract for Disposition by Sale of Land by and between the Urban Redevelopment Authority of Pittsburgh and University of Pittsburgh - of the Commonwealth System of Higher Education, or a related entity, in connection with the sale of Block 29-B, Lots 306 and 308 in the 4th Ward of the City of Pittsburgh, for the sum of $57,380 plus costs;
WHEREAS, the proposed Contract includes property located in the Tax Increment Financing District known as the Pittsburgh Technology Center TIF District; 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 the Contract for Disposition by Sale of Land by and between the Urban Redevelopment Authority of Pittsburgh or an Urban Redevelopment Authority of Pittsburgh affiliate and University of Pittsburgh - of the Commonwealth System of Higher Education, or a related entity, for the sale of Block 29-B, Lots 306 and 308, in the 4th Ward of the City of Pittsburgh for the sum of $57,380 plus costs, be and the same is hereby approved.