HomeMy Public PortalAboutr 13-214lboalu#iou of f4E 19oroug4 o &rteret, �q- ��
No. 0-214 Date of Adootioa....%vay.hr' 21, 2D13
RESOLUTION OF THE BOROUGH OF CARTERET, IN THE COUNTY
OF NHDDLESEX DESIGNATING HC REDEVELOPMENT, LLC AS THE
CONDITIONAL REDEVELOPER OF A PORTION OF THE FEDERAL
BOULEVARD REDEVELOPMENT AREA, PHASE I
I WHEREAS, the New Jersey Local Redevelopment and Housing Law, N.J.S.A.
40A:12A -1 et seq. (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 49.0 1, Lots 4, 9 and 11, Block 49.02, Lot 2, Block 64.0 1, Lots 1, 2, 3, 4.01, 4.04, 5,
6.01, 6.02, 7 and 8, and Block 64.02, Lots 2.01, 2.02 on the Borough's tax map (collectively, the
"Federal Boulevard Redevelopment Area, Phase I ") as an area in need of redevelopment under
the Redevelopment Law; and
WHEREAS, the Borough Council adopted a redevelopment plan for the Federal
Boulevard Redevelopment Area, Phase I; and
WHEREAS, HC Redevelopment, LLC ( "HC "), an affiliate of Hampshire Real Estate
Companies, has expressed a desire to redevelop a portion of the Federal Boulevard
Redevelopment Area, Phase I consisting of Block 2801, Lots 1, 2 & 3 (formerly Block 64.01,
Lots 1, 2/5 & 3) (the "Project Site "); and
I
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 hereby made 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. Tire within designation is further contingent upon (i) HC agreeing to
reimburse 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 redevelopmerungreement, including
such costs incurred prior to the date of adoption of this resolution.
No. 13°214
PAGE 2
Section 4. The Mayor is hereby authorized and directed to execute an Interim Costs
:ment with HC in substantially the same form as that on file with the Borough Clerk, along
such additions, deletions or modifications as the Mayor may deem necessary, after
Itation with counsel.
Section 5. This resolution shall take effect immediately.
Adopted this 21st day of Nbratber, 2013
and certified as a true copy of the
o riginal on Niverber 22, 2013.
KARIM M. BAR1'W, Ntc
MaticiFel Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
NV
'N
YES
NO
A.B.
BELLM
X
lRLM
X
DIAZ
X
MPI ITS
D1M1SCM
X
SrDW
X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto
Adopted at a meeting otthe Municipal Council
No v�r u, 2013
Zee
CLERK