Title
Resolution approving execution of a Contract for Disposition by Sale of Land between the Urban Redevelopment Authority of Pittsburgh and Cedarwood Homes Holdings, LLC, or a related entity, for the sale of Block 70-A, Lots 3 and 10, and Block 70-E, Lots 185, 241, and 375, in the 28th Ward of the City of Pittsburgh (Broadhead Fording Road between Old Orchard Circle and Von Bonnhorst Street - Council District No. 2).
Body
Whereas, Block 70-E, Lot 375, was purchased using the Industrial Land Reserve Fund; and
Whereas, the Urban Redevelopment Authority of Pittsburgh has requested authorization to execute a Contract for Disposition by Sale of Land by and between the Urban Redevelopment Authority of Pittsburgh and Cedarwood Homes Holdings, LLC, or a related entity, in connection with the sale of Block 70-A, Lots 3 and 10, and Block 70-E, Lots 185, 241, and 375, in the 28th Ward of the City of Pittsburgh, for the sum of $434,900 plus costs;
Whereas, the Council of the City of Pittsburgh believes that the proposed Contract 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 Sale of Land by and between the Urban Redevelopment Authority of Pittsburgh and Cedarwood Homes Holdings, LLC, or a related entity, for the sale of Block 70-A, Lots 3 and 10, and Block 70-E, Lots 185, 241, and 375, in the 28th Ward of the City of Pittsburgh for the sum of $434,900 plus costs, be and the same is hereby approved.