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No.
13 -226 Date of Adoption E DEC 19, 2013
RESOLUTION OF THE BOROUGH OF CARTERET, IN THE COUNTY
OF MIDDLESEX DESIGNATING IIIERI M, CARTERET URBAN
RENEWAL, LLC THE CONDITIONAL REDEVELOPER OF A
PORTION OF TILE COOKE AVENUE REHABILITATION AREA AND
AUTHORIZING MEMORANDUM OF AGREEMENT
WHEREAS, pursuant to the New Jersey Local Redevelopment and Housing Law,
MLS.A. 40A:12A -1 et seq. (the "Redevelopment Law"), the governing body of a municipally
may determine a delineated area to be in need of rehabilitation if it determines that there exist in
that area such conditions. including that more than half of the housing stock in the delineated area
is at least 50 years old, or a majority of the water and sewer infrastructure in the delineated area
is at least 50 years old and is in need of repair or substantial maintenance, and a program of
rehabilitation may be expected to prevent further deterioration and promote the overall
development of the community; and
WHEREAS, the Mayor and Council of the Borough of Carteret (the "Borough Council ")
have determined, based upon research conducted by the Borough's Consulting Engineers, T&M
Associates, and the Borough's Tax Assessor, and a planning evaluation conducted by Beacon
Planning and Consulting Services, LLC, that such conditions exist in the area consisting of all
the properties located within the Borough Tax Block located at the northeast comer of
Washington Avenue and Cooke Avenue, bounded to the north by Irving Street, to the east by
High Street, to the south by Washington Avenue and to the west by Cooke Avenue, and
identified as Block 6502 on the Official Tax Map of the Borough (collectively, the - "Cooke
Avenue Rehabilitation Area "); and
WHEREAS, by resolution adopted by the Borough Council our September 5, 2013, the
Borough Council designated the Cooke Avenue Rehabilitation Area as an area in need of
rehabilitation; and
WHEREAS, Meridia Carteret Urban Renewal, LLC ( "Meridia ") has expressed a desire
to rehabilitate a portion of the Cooke Avenue Rehabilitation Area, consisting of Block 6502,
Lots 2, 3, 4, 5, 6, 7, 3, 9, 10, 11, 12, 13, 14 & 15 on the Official Tax Map of the Borough
(collectively, the "Project Area "); and
WHEREAS, the Borough Council has determined that Meridia is capable of undertaking
WHEREAS, the Borough Council wishes to engage in preliminary negotiations with
Meridia in fuut(rerance of entering into a formal redevelopment agreement and toward that end,
desires to execute a Memorandmn of Agreement with Meridia, in a form substantially similar to
that on file with lire Borough Clerk (the "MOA ").
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
No. 13 -226
PAGE 2
- .Scction 1. Meridia is hereby conditionally designated as the redeveloper of the
Project Area and has, at the sole and exclusive discretion of lire Borough, the option to enter into
preliminary negotiations for a redevelopment agreement with the Borough in connection with the
Project Area.
Section 2. The within conditional designation is hereby made for a limited period of
one hundred eighty (130) days.
Section 3. The Mayor is hereby authorized and directed to execute the MOA in
substantially die 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 4. Furthermore, the Mayor is hereby authorized and directed to execute a
formal Redevelopment Agreement with Meridia covering the redevelopment of the Ppeject Area,
all in a form acceptable to the Borough's Law Director, should said Redevelopment Agreement
be fully negotiated as contemplated hereby.
Section 5.- This resolution shall take effect immediately.
Adopted this 19th day of December, 2013 and
certified as a true copy of the original on
December 20, 2013.
KATHIFEN M. BURNEY, N
t1unicipal Clerk
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Adopted at a meeting of lire Iv(unicipal Com teil
DEC El( 9, 2013
I(ECOI D OF COUNCIL VOTE