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No. 15 -173 Pate of Adoptio "bit 6, 2015
RESOLUTION OF THE BOROUGH OF CARTERET
AUTHORIZING THE EXECUTION AND DELIVERY OF ONE OR
MORE REDEVELOPMENT AGREEMENTS FOR PROJECTS
WITHPI THE FEDERAL BOULEVARD REDEVELOPMENT
PLAN
WFIEREAS, the Borough Council has adopted an ordinance approving and
adopting the Federal Boulevard Redevelopment Plan (the "Redevelopment Plan") in
accordance with the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A -1 el seq.
(the "Act "); and
WHEREAS, the Redevelopment Plan relates to certain properties within the
Borough, specifically Block 49.01, Lots 4, 9 and 11; Block 49.02; Lot 2, Block 64.01,
Lots 1, 2, 3, 4.01, 4.03, 4.04, 5, 6.01, 6.02, 7 and 8; Block 64.02, Lots 1, 2.01, 2.02, 3 and
7, as reclassified (collectively the "Redevelopment Area "); and
WHEREAS, Federal Business Center, Inc. is the fee title owner of those parcels
of real property located within the Redevelopment Area designated on the Official Tax
Map of the Borough as Block 2802, Lots 1, 3, 11 and 12 (the "Project Area"); and
WHEREAS, the Federal Business Center, Inc. or its ground lessee (collectively
the "Redeveloper "), desires to construct upon the Project Area one or more warehouse
facilities, including appropriate parking, fencing, screening and landscape improvements;
WHEREAS, the Borough has negotiated a form 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 -173
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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 directed 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 6th day of ALgust, 2015 and
certified as a true copy of the original
on Atgust 7th, 2015.
KA24M M. GAMY, Mc
limicipal Clerk
RECORD OF COUNCIL VOTE
BE
X ntturt X
DIAZ X NAPLES X
DI MASCIO X SITARZ I I I I X
X - Indicate Vote A6 - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto
Adopted at a meeting of the btunicipal Council 6 V August 6, 2015
EXHIBIT A
REDEVELOPMENT AGREEMENT
Record and Return to
Matthew C. Karrenberg, Esq.
DeCoths, Fitzpatrick & Cole, LLP
500 Frank W. Burr Boulevard
Teaneck, New Jersey 07666
REDEVELOPMENT AGREEMENT
BY AND BETWEEN
BOROUGH OF CARTERET, NEW JERSEY,
as the Redevelopment Entity
and
[NAME OF ENTITY]
as the Redeveloper
Dated as of 2015
Draft 3/30/15 ibfmmge_1817890_1