HomeMy Public PortalAboutr 08:152leoolufforn of toe Pvrnixg4 of &rtezet,
No. 0 - 152
Date of Adoptio .hue 19, 20 08
RESOLUTION OF THE BOROUGH OF CARTERET
AUTHORIZING THE EXECUTION AND DELIVERY OF
AMENDNIENT NO. 1 TO REDEVELOPMENT AGREEMENT BY
AND BETWEEN THE BOROUGH OF CARTERET AND
CARTERET GATEWAY, LLC
WHEREAS, the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A -1 et seq.,
as amended and supplemented (the "Redevelopment Law ") provides a process for
municipalities to participate in the redevelopment and improvement of areas in need of
redevelopment; and
WHEREAS, on December 5, 2007, the Borough of Carteret (the `Borough ") entered
into that certain Redevelopment Agreement with Carteret Gateway, LLC (the
"Redeveloper ") with respect to the redevelopment of the Project Area, as such term is
defined therein; and
WHEREAS, the Borough has negotiated an amendment to the Redevelopment
Agreement with the Redeveloper ( "Amendment No. 1 to Redevelopment Agreement,
attached hereto as Exhibit A hr substantially final form) with respect to a revised Project
Schedule and notice provisions; and
NOW, THEREFORE, BE IT RESOLVED as follows:
Section 1. Amendment No. 1 to Redevelopment Agreement is hereby
authorized to be executed and delivered on behalf of the Borough by either the Mayor,
Chief Financial Officer or Director of Law, each an "Authorized Officer ", in substantially
the forn attached hereto as Exhibit A, with such changes as such Authorized Officer,
after consultation with such counsel and any advisors to the Borough (collectively, the
`Borough Consultants'), deems necessary, desirable or convenient in such Authorized
Officer's sole discretion. All actions of the Authorized Officers and the Borough
Consultants taken prior to the date of adoption hereof in connection with the
Redevelopment Agreement are hereby ratified and approved.
Section 2. The Borough Clerk, or the Deputy Borough Clerk, is hereby
authorized and directed, upon the execution of Amendment No. I to Redevelopment
Agreement in accordance with the temms of Section I hereof, to attest to the Authorized
Officer's execution of Amendment No. I to Redevelopment Agreement and is hereby
further authorized and directed to thereupon affix the seal of the Borough to the
Amendment No. 1 to Redevelopment Agreement.
Section 3. Upon the execution mid attestation of and if required, the placing
of the seal . of the Borough on Amendment No. 1 to Redevelopment Agreement as
contemplated by Sections I and 2 hereof, the Authorized Officer is hereby authorized and
directed to (i) deliver such fully executed, attested and sealed Amendment No. 1 to
Redevelopment Agreement to the Redeveloper and (ii) perfomm such other actions as the
Authorized Officer deems necessary, desirable or convenient in relation to the execution
and delivery thereof.
Section 4. The Authorized Officers are each hereby farther authorized to
perfomr any act, execute or acknowledge and deliver any other document, instrument or
certificate, which the Authorized Officer, after consultation with lire Borough
Consultants, deems necessary, desirable or convenient in connection with the
Amendment. No. I to Redevelopment Agreement, and the Borough Clerk, or Deputy
Borough Clerk, is hereby further authorized and directed to attest to such execution or
acknowledgement and to affix the seal of the Borough to any such document, instrument
or certificate.
NO.0 -152
PAGE 2
Section 5. This resolution shall take effect at the time and in the manner
prescribed by law.
Section 6. Upon the adoption hereof, the Borough Clerk shall forward
certified copies of this resolution to Matthew C. Karrenberg, Esq., DeCotiis, Fitzpatrick,
Cole & Wisher, LLP, Special Redevelopment Counsel to the Borough.
Adopted this 19th day of June, 2008
And certified as a true copy of the
Original on June 21, 2008.
KATHLEEN M. RARNEV, RC
Municipal Clerk,
RECORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
N Y
COUNCILMAN
YES
NO
NV
A.B.
I;E.[JSNO_
x
KRUM
x
00LCN.
x
NAPLES
x
DIAZ
x
SITARZ
x
X - Indicate Vote
AB- Absent NV -Noi Votiag
%OR- Indieatn Vote to Veto
Adopted at a meeting of the Municipal Council
y
dR -
r < r
i June 1 2008
Clerk
EXHIBIT A
AMENDMENT NO. 1 TO REDEVELOPMENT AGREEMENT