Section 1. Legislative findings.
It is hereby determined and declared as a matter of legislative finding:
(1) From the early 19th century through World War II,
Cramp Shipyard on the Delaware River was one of the most
productive commercial and naval shipbuilding sites in the
United States of America.
(2) In 1946, the United States of America acquired Cramp
Shipyard from the Cramp Shipbuilding Company.
(3) The shipyard was turned over in 1962 to the
Philadelphia Industrial Development Corporation, also known
as the PIDC, by the Federal Government.
(4) Despite significant efforts by PIDC, much of the
area which was formerly Cramp Shipyard was never developed.
(5) In section 38 of the Water Resources Development Act
of 1988 (Public Law 100-676, 33 U.S.C. § 59j-1), the United
States Government removed the Federal navigational servitude
in the area of the Cramp Shipyard between the bulkhead line
and the pierhead line. This was done in order to remove the
Federal cloud on title.
(6) The Commonwealth owns the land under the Delaware
River between the bulkhead line and the pierhead line and the
riparian rights associated with that land.
(7) Further development of this area has been hampered
by a lack of financing due to concerns about the Commonwealth
ownership of riparian rights and riverbed land as well as the
significant costs of environmental remediation necessary at
the site.
(8) Transfer of the Commonwealth's interest in the land
between the bulkhead line and the pierhead line to the Beach
Street Corporation and the Dyott Corporation, current owners
of the land on the fastland side of the bulkhead line, will,
in concert with the previous Federal release of navigational
servitude, allow for financing to remediate and develop the
property.
(9) This development will redress the blight and
deterioration in the area, result in remediation of
environmental contamination at the site and retain and create
jobs with attendant tax revenues for the Commonwealth.