HomeMy Public PortalAboutOrd. 15-25Mrmnalla
Nn. 15 -25 of 14e
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PAID vlll 4 of Tlarterd, �. J
ORDINANCE OF THE BOROUGH OF CARTERET, COUNTY OF
MIDDLESEX, NEW JERSEY APPROVING APPLICATION FOR
FINANCIAL AGREEMENT
WHEREAS, Roosevelt Ave. Urban Renewal Company, LLC (the "Redeveloper ") is the
contract purchaser of property known as Block 302, Lots 6 and 7 (the "Project Area "), which is
located in an area designated as an area in need of redevelopment; and
WHEREAS, the Borough and the Redeveloper entered into that certain Redevelopment
Agreement, dated July 17, 2015, pursuant to which the Redeveloper agreed to redevelop the
Project Area by constructing thereon approximately 60 residential units (the "Project "); and
WHEREAS, the Redeveloper submitted to the Mayor (the "Mayor ") an application (the
"Application "), which is on file with the Borough Clerk, to make payments to the Borough in
lieu of taxes in connection with the Project; and
IVI EREAS, the Redeveloper also submitted to the Mayor a form of financial agreement
(the "Financial Agreement "), a copy of which is attached as Exhibit 19 to the Application; and
WHEREAS, the Mayor submitted the Application and Financial Agreement to the
Borough Council with his recommendation for approval, a copy of which recommendation is on
file with the Borough Clerk.
NOW, THEREFORE, BE IT ORDAINED BY THE BOROUGH COUNCIL OF
THE BOROUGH OF CARTERET, NEW JERSEY AS FOLLOWS:
Section 1. The Application and Financial Agreement are hereby approved.
Section 2. The Mayor is hereby authorized to execute the Financial Agreement
substantially in the form attached as Exhibit 19 to the Application, subject to minor modification
or revision, as deemed necessary and appropriate after consultation with counsel
Section 3. The Borough Clerk is hereby authorized and directed, upon execution
the Financial Agreement by the Mayor, to attest to the signature of the Mayor.
Section d. This ordinance shall take effect in accordance with applicable law.
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Adopted on first reading of the Council of the Borough of Carteret, N.J., on Nnvpmh
Adopted on second reading after hearing can ll�c P ZI 2015
APPROVED Y A '�
ON MAYOR
LC qC R A
RORO .f IFRY
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:
November 11, 2015
Notary Public of New Jersey
Kathleen M. Barney, M
Municipal Clerk
LINDA A. RIVERA
Sworn and Subscribed before NOTARY PUBLIC OF NEW JERSEY
Me this I:adl day of /2 1'�t, , MY COMMISSION EXPIRES MAY 2, 2016
f?/. e
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:
December 10, 2015
ORDINANCE 15 -25 r
Approved By:_ MAYOR DANIEL J. REIMAN
Advertised as Finally Adopted: _DECEMBER 10, 2015
`. KATHLEEN M. BARNEY, MMC
Municipal Clerk
PUBLISH: Thursday, December 10, 2015
The Star Ledger
12/10/2015 "$57.96
Notary Public of New Jersey Kathleen M. Barney, M
Municipal Clerk
Sworn and Subscribed before
Me this, -Z day of
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