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HomeMy Public PortalAboutr 14-106Anolutiou _of fljQ Porou, l4 .of Ta h1't, �N A. No. .14- -106 Date of Adoptio %K 15 2014 RESOLUTION OF THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX, DESIGNATING 1VIERIDIA CARTERET URBAN RENEWAL, LLC AS THE CONDITIONAL REDEVELOPER OF COOKS AVENUE NHXED -USE REDEVELOPiVIENT AREA AND AUTHORIZING INTERIM COSTS AGREEMENT WHEREAS, on April 10, 2014, the Borough Council (the `Borough Council ") of the Borough of Carteret (the "Borough ") adopted a resolution designating the properties identified as Block 6501, Lots 1, 2 and 18, and Block 6502, Lots 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 & 15 on the tax map of the Borough (the "Cooke Avenue Mixed -Use Redevelopment Area ") as an "area in need of redevelopment" tinder the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A -1 et seq. (the "Redevelopment Law "); and WHEREAS, on May 15, 2014, the Borough Council adopted an ordinance approving and adopting a redevelopment plan for the Cooke Avenue Mixed -Use Redevelopment Area, prepared by Beacon Planning and Consulting Services, LLC and dated April 2014 (the "Cooke Avenue Mixed -Use Redevelopment Plan"); and WHEREAS, Meridia Carteret Urban Renewal, LLC ( "Meridia ") has expressed a desire to redevelop the Cooke Avenue Mixed -Use Redevelopment Area; and WHEREAS, the Borough Council has detemnined that Meridia is capable of undertaking the redevelopment of the Cooke Avenue Mixed -Use Redevelopment Area; and WHEREAS, the Borough «fishes to engage in preliminary negotiations with Meridia, or with any corporate entity that Meridia shall create and wholly own, 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 Meridia 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. The aforementioned recitals are incorporated herein as though f set forth at length. Section 2. Meridia is hereby conditionally designated as the redeveloper of the Cooke Avenue Mixed -Use Redevelopment Area and has, at the sole mid exclusive discretion of the Borough, the option to enter into preliminary negotiations for a redevelopment agreement with the Borough in connection with the Cooke Avenue Mixed -Use Redevelopment Area. Section 3. The within conditional designation is hereby made for a limited period of one hundred eighty (180) days and is further contingent upon Meridia providing for any additional project related information as may be requested by the Borough. Section 4. The within designation is further contingent upon Meridia agreeing to reimburse the Borough for any and all costs associated with the Borough's review of said additional material and any efforts involved in designating Meridia as the conditional redeveloper and negotiating a formal redevelopment agreement between the Borough and Meridia (or such wholly owned corporate entity as it may create). 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 negotiations of a formal redevelopment agreement. NO. 14 -106 PAGE 2 Section 5. The Mayor is hereby authorized and directed to execute an Interim Costs lent in substantially the same form as that on file with the Borough Clerk, along with such is, deletions or modifications as the Mayor may deem necessary, after consultation with Section 6. This resolution shall take effect immediately. Adopted this 15th day of May, 2014 and certified as a tme copy of die or igir& w May 16, 2014. KMi IFFN M. BARD) MIC M iidpal Clerk RECORD OR COUNCIL VOTE COUNCILJIAN 1YES NO NV .1.0. COUNCILMAN YCS N'O NV .1.D. R I1. X DIAZ X X DBIASC X SEW X X - Indicate Vote Ali - Absent NV - Not Voting XOR - lndicutc lme to Overmlc Veto Adopted at a meeting of the Municipal Council _ May 15, 2014 �,. C E K /r