PHILADELPHIA REDEVELOPMENT AUTHORITY

1234 MARKET STREET, 16TH FLOOR
PHILADELPHIA, PA 19107

BOARD MEETING
WEDNESDAY, AUGUST 08, 2018

REAL- ESTATE

Mr. Padilla presented "Item IV - Conveyance of Properties" in substance consistent
with the attached Fact Sheet hereto.

Additional Comments and Discussion

Mr. Padilla distributed a revised Fact Sheet for 3867 Folsom Street to the Board,
Authority staff and public.

Relating to the various properties being disposed to Community Ventures, Ms. Fadullon
stated for the record that she understands the project will have an Economic Opportunity
Plan (EOP) with combined goals of 35%.

r. Rodriguez from Philadelphia Land Bank advised the Board members that the i200 S.
Bucknell Street/2040 Titan Street/2046 Titan Street disposition will have an Economic

Opportunity Plan (EOP) with combined goals of 35%. Ms. Fadullon asked if an BOP

has been signed. Mr, Rodriguez stated the goals have been established but that the BOP
has not yet been executed.

 

Ms. Fadullon stated for the record that the approval of the transfer of these dispositions to
Community Ventures and Hayman Construction LLC will be subject to an executedand
approved BOP.

 

Board Action

Ms. Fadalloa cailed for a motion on the :esoiutioni Upon motion made and duly seconded, the restitution was approved as foitows:

RESOLUTION NO. 2018?58

VACANT PROPERTY REVIEW COMMITTEE PROGRAM - RESOLUTION
AUTHORIZING ACCEPTANCE OF TITLE FROM THE CITY OF

PHILADELPHIA TO VARIOUS PROPERTIES AND DISPOSITION OF SUCH
PROPERTIES

certain properties have been scanned by the it}? and determined to
be sotpins to the needs of the City;