Transmitting a resolution approving the redevelopment contract of the Philadelphia Redevelopment Authority for the redevelopment and urban renewal of a portion of the Model Cities Urban Renewal Area, identified by house number and street address as 1221-1225 North Fourth street; and authorizing the Redevelopment Authority to execute the redevelopment contract with Engine House 29 LLC and to take such action as may be necessary to effectuate the redevelopment contract.