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HomeMy Public PortalAboutr 15-229r" L i C" A 2>3,f .it:l r>ar .r 1 :t , k M k t nxt. �� :( Lst� ua. 15--229 Date of Adoptio Nbym x 5, 2015 RESOLUTION OF THE BOROUGH OF CARTERET CONDITIONALLY DESIGNATING GATED INVESTMENTS GROUP, LLC, AS THE REDEVELOPER FOR THE PROPERTY KNOWN AS TAX BLOCK 6704, LOT 6.03 LOCATED WITHIN THE WASHINGTON AVENUE REDEVELOPMENT AREA AND AUTHORIZING THE EXECUTION AND DELIVERY OF A REDEVELOPMENT AGREEMENT WHEREAS, pursuant to the Redevelopment and Housing Law, constituting Chapter 79 of the Pamphlet Laws of 1992 of the State, and the acts amendatory thereof and supplemental thereto (the "Redevelopment Law", as codified in N.J.S.A. 40A:12A -I Lt sue.), a municipality may sell, convey or lease any of its property to a redeveloper for the purpose of clearance, re- planning, development and redevelopment of a redevelopment area provided that the sale, conveyance or lease in made in conjunction with a redevelopment plan; and WHEREAS, on June 12, .2006, the Council of the Borough of Carteret, a municipal corporation in the County of Middlesex and the State of New Jersey (the `Borough "), in accordance with the Redevelopment Law, duly adopted Resolution No. 06 -33 designating sixty -four properties along Washington Avenue as an area in need of redevelopment (the "Redevelopment Area "); and WHEREAS, on June 15, 2006, in accordance with the Redevelopment Law, the Borough finally adopted Ordinance No. 06 -33 adopting the Washington Avenue Redevelopment Plan forth the Redevelopment Area (the "Redevelopment Plan"); and - WHEREAS, the Borough is the fee title owner of certain real property known as Block 6704, Lot 6.03 on the official tax maps of the Borough (the "Property"), which property is located in the Redevelopment Area; and - WHEREAS, the Borough desires to conditionally designate Gated Investments Group, LLC as the redeveloper (tire "Redeveloper) of the Property mid enter into a Redevelopment Agreement with the Redeveloper, a form of which is attached hereto as Exhibit A NOW, THEREFORE, BE IT RESOLVED as follows: Section 1. The Company is hereby conditionally designated as the redeveloper for the Property for an initial period of ninety (90) days, or as otherwise may be extended in accordance with Section 2 hereof, during which time negotiation avid execution of a redevelopment agreement with the Borough shall be completed. Section 2. The Mayor, Chief Financial Officer, or Director of Law (cacti an "Authorized Officer ") are hereby each severally authorized, 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, to extend the time period set forth in Section 1 hereof, but in no event shall such additional period exceed ninety (90) days beyond the time period set forth in Section 1 hereof. Section 3. The Redevelopment Agreement, the form of which is attached hereto as Exhibit A, is hereby authorized to be executed and delivered on behalf of the Borough by an Authorized Officer, with such changes as such Authorized Officer, after consultation with the Borough Consultants, deems necessary, desirable or convenient in such Authorized Officer's sole discretion. ,, -229 PACE 2 Section 4. The Borough Clerk, or the Deputy Borough Clerk, is hereby authorized and d upon the execution of the Redevelopment Agreement in accordance with the terms of Section 3 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. Section 5. Upon the execution and attestation of and if required, the placing of the seal of file Borough on the Redevelopment Agreement as contemplated by Sections 3 and 4 hereof, the Authorized Officer is hereby authorized and directed to (a) deliver such fully executed, attested and sealed Redevelopment Agreement to the Redeveloper and (b) perform such other actions as file Authorized Officer deems necessary, desirable or convenient in relation to the execution and delivery thereof. Section 6. In the event that the Redeveloper has not executed the Redevelopment Agreement with the Borough, all in accordance with the time periods set forth in Section 1 hereof, or as otherwise may be extended by air Authorized Officer, in such Authorized Officer's sole discretion, in accordance with Section 2 hereof, the Borough's conditional designation of the Redeveloper as redeveloper for the Property shall expire and be of no further force and effect and the Borough shall have no further obligation to the Redeveloper. Section 7. All actions of the Authorized Officers and the Borough Consultants taken prior to the date of adoption hereof in correction with the Redevelopment Area, including without limitation, the Redevelopment Agreement, are hereby ratified and approved. Section S. This resolution shall take effect at the time and in the manner prescribed by law. Section 9. Upon the adoption hereof, the Borough Clerk shall forward certified copies of this resolution to \4attltew C. Karrenberg, Esq., DeCotiis, Fitzpatrick & Cole, LLP, Special Redevelopment Counsel to the Borough. Prbpted this 5th day of %vmber, 2015 atxl certified as a tr e copy, of t1n . on 1 on Nn l 6, 2015. Muff Q M. BAww , Mc M-nicipal Clerk RECORD OF COUNCIL VOTE COUNCILMAN YES NO N' NV A.B. COUNCILMAN YES - NO NV A.B. EFL UM 1T X ! Kul I X DTP X X pP4L`CIO X X X Mieule Vm A9 Ab,ent NV Not Voting XOR- Indlcatcs Vote to Ovenvle veto Adopted at a meeting of the vlunicipal Councll s NtIVe1lrr EXHIBIT A FORM OF RE, EDEVELOPMENT AGREEMENT