Approving the Third Amendment to Redevelopment Agreement of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of the American Street Industrial Corridor Urban Renewal Area, designated as Revised Parcel No. 8, Revised Parcel No. 9 and Parcel No. 10A, also sometimes identified by house numbers and street addresses for Revised Parcel No. 8 as 1700-34 N. American Street, for Revised Parcel No. 9 as 1703-69 N. Bodine Street (including 229-33 Cecil B. Moore Avenue), and for Parcel No. 10A as 1736-54 N. American Street; and authorizing the Redevelopment Authority to execute the Third Amendment to Redevelopment Agreement with 1700 North American Street, LLC and to take such action as may be necessary to effectuate the Third Amendment to Redevelopment Agreement.

Approving the Third Amendment to Redevelopment Agreement of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of the American Street Industrial Corridor Urban Renewal Area, designated as Revised Parcel No. 8, Revised Parcel No. 9 and Parcel No. 10A, also sometimes identified by house numbers and street addresses for Revised Parcel No. 8 as 1700-34 N. American Street, for Revised Parcel No. 9 as 1703-69 N. Bodine Street (including 229-33 Cecil B. Moore Avenue), and for Parcel No. 10A as 1736-54 N. American Street; and authorizing the Redevelopment Authority to execute the Third Amendment to Redevelopment Agreement with 1700 North American Street, LLC and to take such action as may be necessary to effectuate the Third Amendment to Redevelopment Agreement. WHEREAS, The Philadelphia Redevelopment Authority (hereinafter "Redevelopment Authority") has prepared and submitted an urban renewal plan and a redevelopment proposal for the redevelopment of the American Street Industrial Corridor Urban Renewal Area (hereinafter "American Street"), which said plan and proposal were approved by Ordinance of the Council on June 13, 2002, as amended; and WHEREAS, The Redevelopment Authority executed a redevelopment contract (the "Original Redevelopment Agreement") with Global Building Group, LLC ("Global") dated July 12, 2006 for a portion of American Street, identified as Parcel No. 8, 1700-26 N. American Street, Parcel No. 9, 1703-69 N. Bodine Stree…