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Resolution approving execution of a Contract for Disposition by Sale of Land between the Urban Redevelopment Authority of Pittsburgh and TREK Development, Inc., or a related entity, for the sale of a to-be-subdivided portion of Block 25-S, Lot 112, in the 5th Ward of the City of Pittsburgh (2829 Bedford Avenue - Council District No. 6), at no cost to the City.
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Whereas, the Urban Redevelopment Authority of Pittsburgh has requested authorization to execute a Contract for Disposition by Sale of Land by and between the Urban Redevelopment Authority of Pittsburgh and TREK Development, Inc., or a related entity, for the sale of a to-be-subdivided portion of Block 25-S, Lot 112, in the 5th Ward of the City of Pittsburgh, for the sum of $237,000 plus costs;
Whereas the proposed Contract includes property located in the redevelopment area known as the Greater Hill District Redevelopment Area; 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 and TREK Development, Inc., or a related entity, for the sale of a to-be-subdivided portion of Block 25-S, Lot 112, in the 5th Ward of the City of Pittsburgh for the sum of $237,000 plus costs, be and the same is hereby approved.