Title
Resolution approving Execution of a Contract for Disposition by Lease of Land by and between the Urban Redevelopment Authority of Pittsburgh and McCaffery Interests, Inc., for the lease of Block 9-D, Lot 200 in the 2nd Ward of the City of Pittsburgh - Council District No.7 (Mixed use Development) - Strip District - Produce Terminal).
Body
Whereas, pursuant to the Redevelopment Proposal for Redevelopment Area No. 68 approved September 20, 2011, and in the manner prescribed by the Urban Redevelopment Law, 35 P.S. § 1701 et. seq., the Redevelopment Proposal for Redevelopment Area No. 68 in the 2nd Ward of the City of Pittsburgh was approved; and
Whereas, the Urban Redevelopment Authority of Pittsburgh has requested authorization to execute a Contract for Disposition by Lease of Land by and between the Urban Redevelopment Authority of Pittsburgh and McCaffery Interests, Inc., for the long term lease of Block 9-D, Lot 200, for $2,500,000.00, said property being located in the 2nd Ward of the City of Pittsburgh; and
Whereas, the Council of the City of Pittsburgh believes that the proposed conveyance 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.
Now, therefore, be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. That execution of the Contract for Disposition by Lease of Land by and between the Urban Redevelopment Authority of Pittsburgh and McCaffery Interests, Inc., for the long term lease of Block 9-D, Lot 200, for $2,500,000.00 in the 2nd Ward of the City of Pittsburgh, be and the same is hereby approved, said Contract being in conformity with the Redevelopment Proposal for Redevelopment Area No. 68 in the 2nd Ward of the City of Pittsburgh.