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
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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