HomeMy Public PortalAboutr 14-112No. 14 -112
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AUTHORIZING THE MAYOR TO EXECUTE REDEVELOPMENT
AGREEMENT BETWEEN THE BOROUGH OF CARTERET
AND CARTERET PARCEL E URBAN RENEWAL, LLC
RE: GATEWAY AT CARTERET
BE IT RESOLVED by the Mayor and Council of the Borough of Carteret that the
Mayor is hereby authorized to execute a Redevelopment Agreement between the
Borough of Carteret and Carteret Parcel E Urban Renewal, LLC, in a form approved by
the Borough Attomey.
Adopted this 5' day of June, 2014
and certified as a true copy of the
original on June 6, 2014.
KATHLEEN M. BARNEY, MMC
Municipal Clerk
RECORD OF COUNCIL VOTE
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Adopted at a meeting of (lie Moniclpal Council .JLIllE? 5 4
CLERK -
SUPPLEMENTAL REDEVELOPMENT AGREEMENT BETWEEN THE
BOROUGH OF CARTERET AND GATEWAY AT CARTERET
THIS REDEVELOPMENT AGREEMENT (the "Agreement ") made and
entered this day of June 2014 by and between THE BOROUGH OF CARTERET
(hereinafter referred to as the `Borough ") and CARTERET PARCEL E URBAN
RENEWAL, LLC, (hereinafter referred to as the "Redeveloper ")(collectively the
"Parties ").
k`N Y N►U1FiY.I 11 I i
WHEREAS, the Redeveloper is the designated Redeveloper and undertaking,
pursuant to an approved Redevelopment Agreement a Redevelopment Project in the
Borough; and
WHEREAS, as part of this Project the Redeveloper has agreed to perform all of
the Borough's Public ROW Improvements relating to the redevelopment of what has
been designated as Parcel E; and
WHEREAS, the Borough is desirous of having the Redeveloper perform all of
said improvements as set forth below.
NOW, THEREFORE, for and in consideration of the mutual promises,
representations, covenants and agreements contained herein and the undertakings of each
Party to the other and such other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound
hereby and to bind their successors and assigns, do mutually promise and, covenant and
agree as follows:
1. The foregoing recitals are hereby incorporated by reference and adopted
by the Parties as terms and conditions of this Agreement.
2. The Redeveloper shall construct all of the Public Improvements as
identified by CME Engineering as the Borough's ROW improvements
with regard to Parcel E as depicted on the Final Major Subdivision and
Site Plan, DIMENSION PLAN FOR GATEWAY AT CARTERET,
prepared by Maser Consulting, dated June 24, 2004, and last revised to
May 15, 2012, to the same extent as if the same were attached hereto, to
include the following:
1. Curbs —new.
2. Sidewalk stone 4 inches.
3. Sidewalk -new,
4. Sidewalk -rip out and replace.
5. Paving.
6. Tree Grates.
7. Street Trees.
8. Two (2) Inch conduit with Pull String.
9. Street light base (PSE &G Specifications).
10. Paving Includes:
Box out, 8 inches of DGA, 6 inches of stabilized base I2 in
two lifts, 1 %2 14, 1 %215, saw cutting, milling and traffic
control.
11. Light Poles are supplied and installed by PSE &G.
3. In exchange for the Redeveloper supplying all of the work and materials to
construct all of the Borough's Public Improvements as set forth in
Paragraph 2 above, and upon the approval of said work by the Borough's
Engineer, the Borough shall pay the Redeveloper the sum of $72,660.65.
4. Full Agreement. The Parties intend that this Agreement shall
memorialize all of their agreements and understandings with respect
hereto.
5. Counterparts. This Agreement may be signed in counterparts.
IN WITNESS WHEREOF the parties hereunto set their hands and seals
on the day and year above first written.
ATTEST: BOROUGH OF CARTERET
Kathleen M. Barney, Daniel J. Reiman, MAYOR
Borough Clerk
Dated:
ATTEST: CARTERET PARCEL E
URBAN RENEWAL, LLC
LM
Title: