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HomeMy Public PortalAboutr 16-040Pw1utIVIT Of 14e Poro 4 of aurfexef, N J1 No. 16 -40 Date of RESOLUTION OF THE BOROUGH OF CARTERET AUTHORIZING THE EXECUTION AND DELIVERY OF A REDEVELOPMENT AGREEMENT WITH BRIDGE CARTERET I URBAN RENEWAL, LLC WHEREAS, the Borough Council adopted an ordinance approving and adopting the Federal Boulevard Redevelopment Plan (the "Redevelopment Plan ") in accordance with the Local Redevelopment and Housing Law, N.I.S.A. 40A:12A -1 et 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 (collectively the "Redevelopment Area "); and WHEREAS, the Redeveloper is the ground lessee of that parcel of real property located within the Redevelopment Area designated on the Official Tax Map of the Borough as Block 2802, Lots 11 and 12, formerly designated as Block 64.0 1, Lots 7 and 8 (the "Project Area "); and WHEREAS, the Redeveloper desires to construct upon the Project Area a warehouse facility of approximately 206,500 . square feet, along with approximately 125 parking spaces, appropriate fencing, screening and landscape improvements (the "Project"); 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 D 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 d to thereupon affix the seat of the Borough to the Redevelopment Agreement. NO. 16 -40 PAGE 2 of 2 Section 3. The Authorized Officers me 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 seat 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, PitzPatrick & Cole, LLP, Special Redevelopment Counsel to the Borough. Adopted this 25th day of February, 2016 alit certified as a try copy of the original on February 26th, KABIIIIN M. &1RU, Mw Municipal Clerk RECORD Or COUNCIL VOTE BELLING X pIAZ X DI'MASCIO X X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicate, Vole to Overmle Veto Adopted at a meeting of the Municipal Council , February 25, 20 16 'CCERK