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HomeMy Public PortalAboutr 15-108Datc X Adoptim %y 14, M RESOLUTION OF THE BOROUGH OF CARTERET AUTHORIZING THE EXECUTION AND DELIVERY OF A REDEVELOPMENT AGREEMENT WITH KINDER MORGAN URBAN RENEWAL H, LLC WHEREAS, on September 25, 2008, the Borough Council adopted Ordinance No. 08 -34 approving and adopting the Kinder Morgan Redevelopment Plan (the `Redevelopment Plan "); and WHEREAS, the Redevelopment Plan relates to certain properties within the Borough, specifically Block 9.03, Lots 14.02, 17.03, 18.02 and 18.03 and Block 10, Lot 3.03, or such other Block and Lot designation on the tax map of the Borough reflecting the parcel immediately abutting, in the northwestern d both Lots 17.04 and 18.02 within Block 9.03 (collectively the `Redevelopment Area "); and WHEREAS, the Kinder Morgan Urban Renewal I1, LLC (the "Redeveloper ") intends to construct three (3), 100,000 barrel, above ground bio- diesel, ethanol and/or Petroleum storage and distribution facilities with storage capacity of 100,000 barrels each, including rail sidings and other related improvements (the "Project "), on certain Portions of the Redevelopment Area (the `Project Area "); and WHEREAS, the Borough has negotiated a redevelopment agreement with the Redeveloper (the "Redevelopment Agreement" attached hereto as Exhibit A in substantially final form) with the respect to the Project; and NOW, THEREFORE, BE IT RESOLVED as follows: Section 1. The Redevelopment Agreement is hereby authorized to be executed and delivered on behalf of the Borough by either the Mayor, Chief Financial Officer or Director of Law, in substantially the form attached hereto as Exhibit A , with such changes as the Mayor, Chief Financial Officer or Director of Law (each an "Authorized Officer "), in their respective sole discretion, after consultation with such counsel and any advisors to the Borough (collectively, the "Borough Consultants "), as such Authorized Officer deems necessary, desirable or convenient in such Authorized Officer's sole discretion. All actions of the Authorized Officers and the Borough Consultants taken prior to the date of adoption hereof are hereby ratified and approved. Section 2. The Borough Clerk is hereby authorized and directed, upon the execution of the Redevelopment Agreement in accordance with the terms of Section 1 hereof, to attest to the Authorized Officer's execution of the Redevelopment Agreement and is hereby further authorized and directed to thereupon affix the seal of the Borough to the Redevelopment Agreement. NO. 15-108 PAGE 2 Section 3. The Authorized Officers are each hereby further authorized to perform any act, execute or acknowledge and deliver any other document, instrument or certificate, which the Authorized Officer, after consultation with the Borough Consultants, deems necessary, desirable or convenient and the Borough Clerk is hereby further authorized and d to attest to such execution or acknowledgement and to affix the seal of the Borough to any such document, instrument or certificate. Section 4. Upon the Redeveloper's execution and delivery of a Redevelopment Agreement, the Redeveloper shall be hereby deemed as the redeveloper of the Project Area for all Purposes of law. Section 5. This resolution shall take effect at the time and in the manner prescribed by law. Section 6. Upon the adoption hereof, the Borough Clerk shall forward certified copies of this resolution to Matthew C. Karrenberg, Esq., DeCotiis, Fitzpatrick & Cole, LLP, Special Redevelopment Counsel to the Borough. Adopted this 14th day of May, 201_5 and certified as a tnle copy of tlr original W %y 15, 2015. KA�IIFIIV M. HARtiEY, M+C hinici�l Clerk RECORD OF COUNCIL VOTE. COUNCILMAN YES NO NV A.B. COUNCILMAN NO NV A.B. B LM X IQdN] DIAZ X RAPIES !YE DIMS X STTARZ X X - Indicate Vote AB Absent NV Nonvoting XOR - fndicales Vole to Overrule Vem Adopted at d meeting of the Mmucipal Council ray 01� 2 �,✓ CLERK mry EXHIBIT A REDEVELOPMENT AGREEMENT