Authorizing the revision of lines and grades on a portion of City Plan No. 230 by striking from the City Plan and vacating the legally open portion of Cresson Street from Ridge Avenue to Osborn Street, under certain terms and conditions.

Authorizing the revision of lines and grades on a portion of City Plan No. 230 by striking from the City Plan and vacating the legally open portion of Cresson Street from Ridge Avenue to Osborn Street, under certain terms and conditions. THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. Pursuant to Section 11-403 of The Philadelphia Code, the Board of Surveyors of the Department of Streets is hereby authorized to revise the lines and grades on a portion of City Plan No. 230 by striking from the City Plan and vacating the legally open portion of Cresson Street from Ridge Avenue to Osborn Street. SECTION 2. This authorization is conditional upon compliance with the following requirements within two (2) years from the date this Ordinance becomes law: (a) The filing of an agreement, satisfactory to the City Solicitor, by the owner(s) of property affected thereby, to release the City from all damages or claims for damages which may arise by reason of the City Plan changes authorized herein; in lieu thereof, only after the party in interest has demonstrated best efforts to obtain such agreements and such efforts are unsuccessful, the party in interest shall file an agreement and a bond, with corporate surety, satisfactory to the City Solicitor or an irrevocable letter of credit satisfactory to the City Solicitor, to release the City as aforesaid. (b) The filing of an agreement, satisfactory to the City Solicitor, by the party in interest to release, indemnify, and …