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Resolution approving Execution of a Contract or Contracts for Disposition by Sale of Land by and between the Urban Redevelopment Authority of Pittsburgh and CWPD, LLC, for the Sale of Block 70-E, Lots 300 and 325, and Block 107-H, Lot 100, in the 28th Ward of the City of Pittsburgh - Council District No. 2 (New Construction - Broadhead Fording Road and 3520-3550 Mazette Place).
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Whereas, pursuant to Ordinance No. 427, approved December 9, 1964, and in the manner prescribed by the Urban Redevelopment Law, 35 P.S. § 1701 et. seq., as amended, the Industrial Land Reserve Fund Cooperation Agreement was approved; and
Whereas, the Urban Redevelopment Authority of Pittsburgh has requested authorization to execute a Contract or Contracts for Disposition by Sale of Land by and between the Urban Redevelopment Authority of Pittsburgh and CWPD, LLC, for the Sale of Block 70-E, Lots 300 and 325, and Block 107-H, Lot 100, said properties being located in the 28th 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 a Contract or Contracts for Disposition by Sale of Land by and between the Urban Redevelopment Authority of Pittsburgh and CWPD, LLC, for the Sale of Block 70-E, Lots 300 and 325, and Block 107-H, Lot 100, for $65,560 per acre, not to exceed $1,500,000 in the 28th Ward of the City of Pittsburgh, be and the same is hereby approved, said Contract being in conformity with the terms and conditions of the Industrial Land Reserve Fund.