HomeMy Public PortalAboutr 13-211Analu#iou of #4e Porough of &r#eret, �K_ 4-
VO. 13-211 Date of Adoptio NWHIb'r 2"1, 20 I.
RESOLUTION OF THE BOROUGH OF CARTERET, IN THE COUNTY
OF MIDDLESEX DESIGNATING HC REDEVELOPMENT, LLC AS THE
CONDITIONAL REDEVELOPER OF A PORTION OF THE WEST
CARTERET MINUE STREET REDEVELOPMENT AREA, PHASE 11
WHEREAS, the New Jersey Local Redevelopment and Housing Law, N.J.S.A.
40A:12A -1 et seg, (the "Redevelopment Law ") authorizes municipalities to determine whether
certain parcels of land located therein constitute areas in need of redevelopment; and
WHEREAS, by resolution duly adopted by the Borough Council (the "Borough
Council ") of the Borough of Carteret (the "Borough ") designated the properties formerly known
as -Block 49.03, Lob 1, Block 50.01, Lots 10 -17, 27 -30 and 32.04, Block 50.02, Lots 1.01, 1.02
and 2 -4 on the Borough's tax map, along with portions of surrounding rights -of -way,
(collectively, the "West Carteret Minue Street Redevelopment Area, Phase II ") as an area in need
of redevelopment order the Redevelopment Law; and
WHEREAS, the Borough Council adopted a redevelopment plan for the West Carteret
Mlinue Street Redevelopment Area, Phase I1; and
WHEREAS, HC Redevelopment, LLC ( "HC "), an affiliate of Hampshire Real Estate
Companies, has expressed a desire to redevelop a portion of the West Carteret Minue Street
Redevelopment Area, Phase B consisting of Block 2703, Lot I (formerly Block 50.02, Lot 2)
(the "Project Site "); and
WHEREAS, the Mayor and Council have determined that HC is capable of undertaking
the redevelopment of the Project Site; and
WHEREAS, the Borough wishes to engage in preliminary negotiations with HC in
furtherance of entering into a formal redevelopment agreement, with said preliminary
negotiations to include the receipt and review of additional project specific information from HC
as may be requested.
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. HC, with offices at 22 Maple Avenue, Morristown, New Jersey 07960, is
hereby conditionally designated as the redeveloper of the Project Site and has, at the sole and
exclusive discretion of the Borough, the option to enter into preliminary negotiations for a
redevelopment agreement with the Borough in connection with the Project
Site.
Section 2. The within designation is herebymade for a limited period of one.hundred
eighty (180) days, and is further contingent upon HC providing any additional project related
information as may be requested by the Borough.
Section 3. The within designation is further contingent upon (i) HC agreeing to
reimbmse the Borough for any and all costs in accordance with an Interim Costs Agreement to
be executed between the Borough and HC, and (ii) negotiating a formal redevelopment
agreement between the Borough and HC. Said costs shall include, but not be limited to, the cost
of any and all professional consultants retained by'the "Borough to review said materials and/or
assist the Borough in negotiation and execution of a formal redevelopment agreement, including
Such costs incurred prior to the date of adoption of this resolution.
No. 13 -211 2
PAGE
Section 4. The Mayor is hereby authorized and directed to execute an Interim Costs
Agreement with HC in substantially the same form as that on file with the Borough Clerk, along
with such additions, deletions or modifications as the Mayor may deem necessary, after
consultation with counsel.
Section 5. This resolution shall take effect immediately
Adopted this 21st day of NweriIler, 2013
arty certified as a tlUe copy of the
or 1 on N vefber 22, 2013.
K4TI3 IN M. BAR U, MC
Mmicipal. Clerk
RECORD Or COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.B.
COUNCILMAN
YES
NO
NV
A.B.
BiLEW
X
MLM
x
DW
x
x
DIMAM0
x
x
X - Indicate Vote AB - Absent NV - Not Voting
XOR - Indicates Vote to Orermle Veto
Adopted at a meeting of the Niunicipal Council
�p Nvaerbr 21, 201 ;
ClhxK
2 B