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
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