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14 -155"
" August 7 2014
Date of Adoption �
SUPPORTING AFFORDABLE SENIOR HOUSING PROJECT
WHEREAS, 535 Roosevelt Avenue, LLC, has proposed and received approval to
construct twelve (12) units of qualifying senior affordable housing to be constructed at
535 -537 Roosevelt Avenue (the "Project "); and
WHEREAS, the Borough desires to endorse and support this Project for the provision of
much needed additional affordable senior housing; and
WHEREAS, the Mayor and Council of the Borough of Carteret wish to enter into an
agreement with 535 Roosevelt Avenue, LLC, and/or its principal(s), agent(s) or assign(s)
for the provision of the above described additional affordable senior housing and the
purpose of administering and enforcing the affordability controls and the Affirmative
Marketing Plan previously adopted by the Borough of Carteret, in accordance with the
regulations of the Council on Affordable Housing pursuant to N.J.A.C. 5:94 et. seo : and
the New Jersey Uniform Housing Affordability Controls pursuant to N.J.A.C. 5:30 -26 et.
seq.; and —
WHEREAS, Borough desires to designate 535 Roosevelt Avenue, LLC, and/or its
principal(s), agent(s) or assign(s) as the Administrative Agent for all units in the above
described Project.
NOW, THEREFORE BE IT RESOLVED, by the Borough of Carteret as follows
I. The Borough hereby endorses and agrees to support through available and
repaid RCA finding the provision of the twelve (12) units of affordable
senior housing to be constructed at 535 -537 Roosevelt Avenue, in
accordance with the Project plan submitted by 535 Roosevelt Avenue,
LLC, and/or its principal(s), agent(s) or assign(s).
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2. The Borough's Law Director is hereby authorized and d to
formalize and execute an Agreement with 535 Roosevelt Avenue, LLC,
and/or its principal(s), agent(s) or assign(s) for the provision of such
fimding for the purposes of aiding in the construction of the above
described affordable housing units, all in a form acceptable to the Law
Director, and the appropriate Borough officials and/or departments are
hereby directed to implement the same.
3. The Borough hereby endorses 535 Roosevelt Avenue, LLC, and/or its
principal(s), agent(s) or assign(s) application(s) for additional affordable
housing funding, such as HOME Funding, if applicable, for the aforesaid
project.
4. The Borough hereby designates 535 Roosevelt Avenue, LLC, and/or its
principal(s), agent(s) or assign(s) as the Administrative Agent for all of the
said units in the Project pursuant to the provisions of the Affirmative
Marketing Plan previously adopted by the Borough.
Adopted this 7th day of August, 2014 and
certified as a true copy of the original
on August 8th, 2014.
KA'II M M. R4IdVN3', Mc
Municipal Clerk
RECORD OF COUNCIL VOTE
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