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File #: 2021-2321    Version: 1
Type: Resolution Status: Died due to expiration of legislative council session
File created: 12/10/2021 In control: Committee on Finance and Law
On agenda: 12/14/2021 Final action: 12/30/2021
Enactment date: Enactment #:
Effective date:    
Title: Resolution authorizing the Mayor and the Director of the Department of Finance to execute a quit claim deed or deeds and all related documents, agreements and instruments conveying AS IS all of the City's right, title and interest, if any, in Block 25-B Lot 15, Block 29-F Lot 89, and Block 25-P/Lot 39 (the Properties) of Ward 6 and Ward 2 of Council District 7 to the Urban Development Authority of Pittsburgh (URA) for consideration of $1.00 each, contingent upon the Mayor and the 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 this property to third parties.
Indexes: SALE OF PROPERTY - QUIT CLAIM DEED
Attachments: 1. 2021-2321 Cover Letter-12.10.2021 Cover Letter Sale of City Owned Strip District Parcels, 2. Summary 2021-2321
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Resolution authorizing the Mayor and the Director of the Department of Finance to execute a quit claim deed or deeds and all related documents, agreements and instruments conveying AS IS all of the City's right, title and interest, if any, in Block 25-B Lot 15, Block 29-F Lot 89, and Block 25-P/Lot 39 (the Properties) of Ward 6 and Ward 2 of Council District 7 to the Urban Development Authority of Pittsburgh (URA) for consideration of $1.00 each, contingent upon the Mayor and the 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 this property 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 purchase 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 quit claim deed or deeds 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 c...

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