HomeMy Public PortalAboutr 11-118Anal tion of the Pjarog4 of &rfe e#,
No. 11 —ll8
li Date of Adoption .BIND 16 701
RESOLUTION OF THE BOROUGH OF CARTERET, IN THE COUNTY
OF DIIDDLESEX DESIGNATING GP. 700 BLAIR ROAD, LLC AS THE
REDEVELOPER OF A PORTION OF THE FEDERAL BOULEVARD
REDEVELOPMENT AREA, PHASE H AND AUTHORIZING THE
EXECUTION OF AN AGREEMENT IN CONNECTION THEREWITH
WHEREAS, by Resolution No. 06 -212, duly adopted on July 20, 2006, the Borough of Carteret
(the "Borough') designated a portion of the Borough, consisting of the properties identified as
Block 64.02, Lots I & 7 on the Borough's tax map (the "Redevelopment Area'), as an area in
need of redevelopment pursuant to ahe New Jersey Local Redevelopment and Housing Law,
N.J.S.A. 40A:12A -1 et seq. (the "Redevelopment Law); and
WHEREAS, by Ordinance No. 06 -54, finally adopted on October 26, 2006, the Borough
approved and adopted a Redevelopment Plan for the redevelopment of the Redevelopment Area
(the "Redevelopment Plan'); and
WHEREAS, by Resolution No. 11 -62 duly adopted on March 24, 2011, the Borough
conditionally designated GP 700 Blair Road, LLC ( "OP 700') as the redeveloper for the portion
of the Redevelopment Arca known as Block 64.02, Lot 1, located at 700 Blair Road (the'Pmjecl
Area'), I �fiuthemnce of entering into a formal redevelopment agreement with GP 700; and
WHEREAS, in order to set forth the terms and conditions under which GP 700 will undertake
the redevelopment of the Project Area, the Borough and GP 700 desire to enter into a
redevelopment agreement; and
WHEREAS, the Borough now desires to authorize the execution of a redevelopment agreement
by and between the Borough and GP 700 in substantially the same form as that on file with the
Borough Clerk (the "Redevelopment Agreement').
NOW, THEREFORE, BE AND IT IS HEREBY RESOLVED by the Mayor and Council of
Borough of Carteret, in the County of Middlesex and the State of New Jersey, as follows:
Section 1. GP 700 Blair Road, LLC, with offices at 50 Grand Avenue, Englewood,
New Jersey 07631, is designated as the redeveloper of the Project Area, subject to the execution
of the Redevelopment Agreement.
Section 2. The Mayor is hereby authorized to execute the Redevelopment
Agreement, with such additions, deletions or modifications as he may deem necessary, upon
consultation with counsel and any officer, employee or agent of the Borough is authorized to
attest to such execution.
Section 3. This resolution shall take effect immediately.
Section 4. Upon adoption of this resolution, the Clerk of the Borough is directed to
forward a copy hereof to the Borough's Special Redevelopment Counsel, McManimon &
Scotland, L.L.C., Attn: Kevin P. McManimon, Bsq., 1037 Raymond Boulevard, Suite 400,
Newark, New Jersey 07102.
Adopted this 16 day of June, 2011
and certified as a true copy of the
original on June 17, 2011.
KATHLEEN M. BARNEY, MMC
Municipal Clerk
RECORD OP COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.B.
COUNCILMAN
YES
BELLINO
x
KRUM
x
DIAZ
X
x
7A.B.
X
X - Indicate Vote AB - Absent NV - Not Voting
XOR - Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council
16 2011