HomeMy Public PortalAbout98:16No. 98-16 of i[[~e
ORDINANCE AIC'pROV]lqG ~ APPLICATION
~ TAX ABA~f~IT AND A[J~I~RIZ]lqG
AG~R~II2~ WITH CYPRUS AM~X
WIlbankS, the Borough of Carteret (the 'Borough') has previously deter-
mined to allow short term tax abatements in order to encourage develop-
ment of certain areas of the communityl and
~fI{F~S, Cyprus Amax is the owner of a property within the area for which
tax abatements are permittedl and
Wt~lVREAS, Cyprus Amax has developed a commercial establishment on this
property and has applied for a tax abatement in accordance with Article
II of the Chapter 232 of the Code of the Borough of Carteretl and
Wt~S, the Borough Council of the Borough of Carteret (the 'Council')
has reviewed the approved Cyprus Amax's application.
NG~, TBI~Ef~RE, BE IT R~OL~, by the Borough Council of the Borough of
Carteret that the Mayor and the Borough Clerk are authorized to enter into
a five (5) year tax abatement agreement with Cyprus Amax in accordance
with the attached schedule prepared by the Borough's Tax Assessor.
BE IT Ft~cI'U~RRESOLVED that within thirty (30) days of the execution of
said tax abatement agreement, the Borough Clerk shall forward a copy to
the Director of the Division of Local Government Services in the Depart-
ment of Co~unity Affairs of the State of New Jersey.
DO NOT USE SPACE BELOW THIS LINE
RECORD OF COUNCIL VOTE
tr COUNCILMAN YES NO NV A.B. COUNCILMAN YES NO NV A.B.
C~ TT.r.l~e- X FAZI~AS X
DuPONT X ~I
FRTI.R~ X O'~
X - lndicme Vote AB - Absenl NV - Not Voling XOR - Indicates Vote ~o Overrule Veto
Adopted on first reading of thc Council of the Borough of Cartcret, N.J., on
Adopted on second reading after hearing on ~,kRCH 19, 1998
~ BOROUG~ CLERK