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File #: 2016-0614    Version:
Type: Resolution Status: Passed Finally
File created: 7/8/2016 In control: Committee on Finance and Law
On agenda: 7/12/2016 Final action: 9/20/2016
Enactment date: 9/20/2016 Enactment #: 557
Effective date: 9/26/2016    
Title: Resolution authorizing the Mayor and the Director of the Department of Finance to execute a quit claim deed or deeds, and any other necessary or appropriate documents, agreements, and instruments conveying AS IS all of the City's right, title and interest, if any, in designated City-owned properties to the Urban Redevelopment Authority of Pittsburgh ("URA") for consideration of $1.00 each, contingent upon the Mayor and Director of the Department of Finance first entering into a Cooperation Agreement or Agreements with the URA setting forth the rights and obligations of the City and the URA relating to these initial conveyances and further setting forth the rights and obligations of the City and the URA relating to the subsequent disposition of these properties to third parties.
Indexes: AGREEMENTS, COOPERATION AGREEMENT/S
Title
Resolution authorizing the Mayor and the Director of the Department of Finance to execute a quit claim deed or deeds, and any other necessary or appropriate documents, agreements, and instruments conveying AS IS all of the City's right, title and interest, if any, in designated City-owned properties to the Urban Redevelopment Authority of Pittsburgh ("URA") for consideration of $1.00 each, contingent upon the Mayor and Director of the Department of Finance first entering into a Cooperation Agreement or Agreements with the URA setting forth the rights and obligations of the City and the URA relating to these initial conveyances and further setting forth the rights and obligations of the City and the URA relating to the subsequent disposition of these properties to third parties.

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Whereas, pursuant to the Urban Redevelopment Law, 35 P.S. ? 1701 et. seq. the URA is authorized to steward the development process, evaluate proposals, and ultimately sell City-owned property to promote the City's economic development; and

Whereas, pursuant to this authority and subject to the approval of its Board of Directors, the Urban Redevelopment Authority of Pittsburgh ("URA") desires to acquire all of the City's right, title and interest, if any, in City-owned properties described in Section 1 and Exhibit A herein (each a "Property" and collectively the "Properties") for consideration of $1.00 each, contingent upon the Mayor and Director of the Department of Finance first entering into a Cooperation Agreement or Agreements between the City and the URA setting forth the rights and obligations of the City and the URA relating to the conveyances, including the URA's obligations to market the Properties, the URA's right to set the purchase price for each Property, the URA's obligation to hold and sell the Properties to third parties after conveyance to the URA, the URA's obligation to remit proceeds minus agreed-upon costs and expenses to the City from each conveyance...

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