Approving the redevelopment contract of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of the Sarah Allen Urban Renewal Area, identified by house number and street address as 864-874 North Preston street and 871-873 Budd street; and authorizing the Redevelopment Authority to execute the redevelopment contract with Belmont Alliance Civic Association, Community Development Corporation and to take such action as may be necessary to effectuate the redevelopment contract.