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