Presenter
Presented by Mr. Dowd
Title
Resolution approving Execution of a Contract For Disposition of Land By and Between the Urban Redevelopment Authority of Pittsburgh and Ralph A. Falbo, Inc., for the sale of Parcel E2b (Block 29-P, Lot 350) in the 16th Ward of the City of Pittsburgh in Redevelopment Area No. 55, South Water Street, Council District No. 3 (construction of residential building).
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 16th 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 by Sale of Land by and between the Urban Redevelopment Authority of Pittsburgh and Ralph A. .Falbo, Inc., in connection with the sale of Parcel E2b (Block 29-P, Lot 350) for $237,300, based on a value of $350,000.00 per acre, said property being located in the16th 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 by Sale of Land by and between the Urban Redevelopment Authority of Pittsburgh and Ralph A. Falbo, Inc., in connection with the sale of Parcel E2b (Block 29-P, Lot 350) for $237,300.00, based on a value of $350,000.00 per acre, said property being located in the 16th 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.