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File #: 2018-0731    Version:
Type: Resolution Status: Passed Finally
File created: 7/16/2018 In control: Committee on Finance and Law
On agenda: 7/17/2018 Final action: 7/31/2018
Enactment date: 7/31/2018 Enactment #: 501
Effective date: 7/31/2018    
Title: Resolution authorizing the Mayor and the Director of Finance to enter into a Purchase and Sales Agreement or Agreements on behalf of the City of Pittsburgh along with the Urban Redevelopment Authority of Pittsburgh and the Housing Authority of Pittsburgh to jointly purchase the property located at 420 Boulevard of the Allies from 420 Allies LLC; to expend designated funds for the City's portion of Earnest Money relating to the purchase; to accept a deed relating to the purchase and to execute all documents to effectuate the purchase; and to enter into a Financing Cooperation Agreement or Agreements with the Urban Redevelopment Authority of Pittsburgh and the Housing Authority of the City of Pittsburgh to document, inter alia, pre-closing responsibilities and funding obligations relating to the purchase. (Post Agenda held 7/23/18; Public Hearing held 7/30/18)
Indexes: AGREEMENTS
Attachments: 1. Summary 2018-0731, 2. 2018-0731 420 Blvd. of the Allies - Financing Cooperation Agreement (final executed w. updated exhibits) - 9-10-2018
Title
Resolution authorizing the Mayor and the Director of Finance to enter into a Purchase and Sales Agreement or Agreements on behalf of the City of Pittsburgh along with the Urban Redevelopment Authority of Pittsburgh and the Housing Authority of Pittsburgh to jointly purchase the property located at 420 Boulevard of the Allies from 420 Allies LLC; to expend designated funds for the City's portion of Earnest Money relating to the purchase; to accept a deed relating to the purchase and to execute all documents to effectuate the purchase; and to enter into a Financing Cooperation Agreement or Agreements with the Urban Redevelopment Authority of Pittsburgh and the Housing Authority of the City of Pittsburgh to document, inter alia, pre-closing responsibilities and funding obligations relating to the purchase.
(Post Agenda held 7/23/18; Public Hearing held 7/30/18)

Body
Whereas, the City, the Urban Redevelopment Authority of Pittsburgh and the Housing Authority of Pittsburgh are each separately seeking authorizations from their respective governing bodies to jointly purchase 420 Boulevard of the Allies, Block 1-M, Lot 150 in the 1st Ward, a 9-story, approximately 150,000 sq. ft., office building located in Pittsburgh's Central Business District (the "Property"); and

Whereas, the purchase of the recently renovated Property and the subsequent performance of additional build-outs for each entity will allow for the relocation of the City, URA, and HACP from the John P. Robin Civic Building (the "Civic Building") and to the Property in order to enable the City and the authorities to provide additional space for staff and enhanced public service by including a first floor "one-stop shop" for City permitting activities and HACP public-facing resident services; and

Whereas, the City, URA, and HACP currently own the Civic Building as tenants-in-common and have determined that it would require substantial capital investment in order to, inter alia, make the bu...

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