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HomeMy Public PortalAboutr 14-233gezaZu#iau of 141e Pazog4 of (brierd, � 14 -233 Date of Adoptio N(YadD r 1 3 , 2(714 RESOLUTION OF THE BOROUGH OF CARTERET, IN THE COUNTY OF NHDDLESEX, DESIGNATING CONDITIONAL REDEVELOPER FOR ROOSEVELT AVENUE REDEVELOPMENT AREA AND AUTHORIZING INTERIM COSTS AGREEMENT WHEREAS, the Borough Council (the "Borough Council ") of the Borough of Carteret (the' "Borough ") previously adopted a resolution designating the properties identified as Block 302, Lots 6 & 7 on the tax map of the Borough (the "Roosevelt Avenue Redevelopment Area ") as an "area in need of redevelopment" under the Local Redevelopment and Housing Law, N.J.S.A.. 40A:12A -1 et seq. (the "Redevelopment Law "); and WHEREAS, the Borough Council previously adopted an- ordinance approving and adopting a redevelopment plan for the Roosevelt Avenue Redevelopment Area, prepared by Beacon Planning and Consulting Services, LLC (the "Roosevelt Avenue Redevelopment Plan "); and WHEREAS, the Borough solicited proposals from prospective redevelopers to redevelop the Roosevelt Avenue Redevelopment Area; and WHEREAS, RVN Development, LLC and Lexington Edgewater, LLC (together, "RVN ") jointly submitted a proposal to redevelop the Roosevelt Avenue Redevelopment Area; and WHEREAS, the Borough Council has determined that RVN is capable of undertaking the redevelopment of the Roosevelt Avenue Redevelopment Area; and WHEREAS, the Borough wishes to engage in preliminary negotiations with RVN, or with any corporate entity that RVN shall create and wholly own, in furtherance of entering into a formal redevelopment agreement. 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 fully set forth at length. Section 2. RVN, or with any corporate entity that RVN shall create and wholly own, is hereby conditionally designated as the redeveloper of the Roosevelt Avenue Redevelopment Area and has, at the sole and exclusive discretion of the Borough, the option to enter into preliminary negotiations for a redevelopment agreement with the Borough in connection with the Roosevelt Avenue Redevelopment Area. Section 3. The within conditional designation is hereby made for a limited period of one hundred eighty (180) days and is fiutber contingent upon RVN providing for any additional project related information as may be requested by the Borough. NO. 14-233_ PAGE —_ Section 4. The within designation is further contingent upon RVN 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 RVN as the conditional redeveloper and negotiating a formal redevelopment agreement between the Borough and RVN (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. Section 5. The Mayor is hereby authorized and directed to execute an Interim Costs Agreement in a form to be approved by the Mayor, after consultation with counsel. Section 6. This resolution shall take effect immediately. Adopted this 13" day of November, 2014 and certified as a true copy of the original on November 14, 2014. KATHLEEN M. BARNEY, MMC Municipal Clerk ACCORD Or COUNCIL VOTE COUNCILMAN YES NO NV A.B. COUNCILMAN YES NO NV A.B. PKIRU X KRU4 X DIAZ X X DIMASCIO X x X - indicate Vote AD-Absent NV - Not Voting XOR - indicates Vote to Ove,mle Veto Adopted at a meeting of me Municipal Council `Nweri 13, 2M4 "LKK L.ea