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HomeMy Public PortalAboutOrd. 15-13Orbix an" No. 15-13 of toe Porortg4 of &- trteret, Councilman Presents the follo Ordinance Seconded by Councilman AN ORDINANCE OF THE BOROUGH OF CARTERET AUTHORIZING THE ERECTION AND DELIVERY OF A FINANCIAL AGREEMENT BY AND BETWEEN THE BOROUGH OF CARTERET AND HINDER MORGAN URBAN RENEWAL H, LLC WHEREAS, the Borough Council has adopted an ordinance approving and adopting the Kinder Morgan Redevelopment Plan (tire "Redevelopment Plan") in accordance with the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A -1 et seq., as amended and supplemented (the "Redevelopment Law"); and WHEREAS, the Redevelopment Plan relates to certain properties within the Borough, specifically Block 9.03, Lots 14.02, 17.04, 18.02 and 18.03 and Block 10, Lot 3.03, or such other Block and Lot desia ration on the tax map of the Borough reflecting the parcel immediately abutting, in the northwestern direction, both Lots 17.04 and 18.02 within Block 9.03 (collectively the "Redevelopment Area "); and WHEREAS, Kinder Morgan Urban Renewal 1I, 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, pursuant to and in accordance with the provisions of the Long Term Tar Exemption Law, constituting Chapter 431 of the Pamphlet Laws of 1991 of the State, and the acts amendatory thereof and supplement thereto (the "Long Term Tar Law", as codified in N.J.S.A. 40A:20 -1 et serd.), the Borough is authorized to provide for tax abatement within a redevelopment area and for payments in lieu of taxes; and WHEREAS, the Redeveloper has submitted an application for the approval of an urban renewal project, as such term is used in the Long Term Tax Law, all in accordance With N.J.S.A. 40A:20 -8 (the "Exemption Application ", a copy of which is attached hereto as Exhibit A ); and WHEREAS, the Borough mid the Redeveloper have reached agreement with respect to, among other things, the terms and conditions relating to the Annual Service Charges and desire to execute the Financial Agreement. NOW, THEREFORE, BE IT ORDAINED AND ENACTED by the Borough Council of the Borough of Carteret, County of Middlesex, New Jersey, as follows: Section 1. The Exemption Application is hereby accepted and approved. NO. 15 PAGE 2 Section 2. The Financial Agreement is hereby authorized to be executed and delivered on behalf of the Borough by either the Mayor, the Chief Financial Officer or the D of Law in substantially the form attached hereto as Exhibit B 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 ") shall determine, such determination to be conclusively evidenced by the execution of the Financial Agreement by an Authorized Officer as determined hereunder. The Borough Clerk is hereby authorized and d to attest to the execution of the Financial Agreement by an Authorized Officer of the Borough as determined hereunder and to affix the corporate seal of the Borough to the Financial Agreement. Section 3. The Authorized Officers of the Borough are hereby further severally authorized and d to (i) execute and deliver, and the Borough Clerk is hereby further authorized and directed to attest to such execution and to affix the corporate seal of the Borough to, any document, instrument or certificate deemed necessary, desirable or convenient by the Authorized Officers or the Borough Clerk, as applicable, in their respective sole discretion, after consultation with the Borough Consultants, to be executed in connection with the execution and delivery of the Financial Agreement and the consummation of the transactions contemplated thereby, which determination shall be conclusively evidenced by the execution of each such certificate or other document by the party authorized hereunder to execute such certificate or other document, and (ii) perform such other actions as the Authorized Officers deem necessary, desirable or convenient in tclation to the execution and delivery thereof. Section 4. This ordinance shall take effect upon final passage and publication as required by law. Section 5. Upon final adoption hereof, the Borough Clerk shall fonvard certified copies of this resolution to Matthew C. Karrenberg, Esq., DeCotus, Fitzpatrick & Cole, LLP, Special Redevelopment Counsel to the Borough. RECORD OF COUNCIL VOTE COUNCILMAN YES NO NV A,B. COUNCILMAN YES NO NV A.B. BuYL1NJ X [Q2lM X D7AZ , DlMkcJ SO X g X X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto Adopted on first reading of the Council of the Adopted on second reading after hearing on orough of Carteret, N.1„ on My Am 4 M5 4, 201 APPROVE O N MAY R Mnwrn. t rt o u EXHIBIT A EXEMPTION APPLICATION EXHIBIT B FORM OF FINANCIAL AGREEMENT AFFIDAVIT OF PUBLICATION The following is a true copy of an Ordinance or Resolution of the Borough of Carteret that has appeared in the Star Ledger, a newspaper which is printed in Newark, New Jersey and published in Essex County, of general circulation in said county and state. One (1) time(s) once in each issue as follows: May 20, 2015 Notary ublic of N s Kathleen M. Barney C y �L`I�d�NVERA M nicipal Clerk y� NOTARY P!'� " r NEW JERP Sworn and ftNVMh0'dilbefo60 MAY 901 Me this, day of 12 :2 AFFIDAVIT OF PUBLICATION The following is a true copy of an Ordinance or Resolution of the Borough of Carteret that has appeared in the Star Ledger, a newspaper which is printed in Newark, New Jersey and published in Essex County, of general circulation in said county and state. One (1) time(s) once in each issue as follows: June 11, 2015 AN RLNLWAL 11, W- as Adopted -'on`: KATHLEEN M. BARNEY, MMC. Municipal Clerk 6/11/2015 `$ . P f Notary Public gy Kathleen M. Barney, C NOTARY PUBLIC OF NEW JERSEY Municipal Clerk MY COMMISSION EXPIRES MAY 2, 2016 Sworn and Subscribed before Me this ZLZIday of /' '