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No . _ 16 -110
Date of Adoption June 2 2016
RESOLUTION OF THE BOROUGH OF CARTERET
AUTHORIZING THE EXECUTION AND DELIVERY OF A
REDEVELOPMENT AGREEMENT AND ACCESS AGREEMENT
WITH RAHWAY ARCH PROPERTIES, LLC
WHEREAS, the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A -1 et seq.,
as amended and supplemented (the "Redevelopment Law ") provides a process for
municipalities to participate in the redevelopment and improvement of areas in need of
redevelopment; and
WHEREAS, on December 19, 2011, the Borough finally adopted Ordinance No. 11 -29
authorizing a Redevelopment Plan for Block 602, Lots 1 and 8 and Block 705, Lots 3-
20.01, 21, 31, 32 and 48 (the "Original Redevelopment Area "); and
WHEREAS, by Resolution No. 15 -174, duly adopted on November 5, 2015, the
Borough reaffirmed the Original Redevelopment Area and included Block 602, Lot 7 and
Block 603, Lot 1 within the area in need of redevelopment (collectively with the Original
Redevelopment Area, the "Redevelopment Area ", and
WHEREAS, on December 3, 2015, the Borough, adopted resolution number 15 -245
conditionally designating the Rahway Arch Properties, LLC (the "Redeveloper ") as
redeveloper of the Redevelopment Area, as defined herein, subject to the negotiation and
execution of a redevelopment agreement; and
WHEREAS, the Borough has negotiated a redevelopment agreement with the
Redeveloper (the "Redevelopment Agreement ") and an access agreement (the "Access
Agreement" and together with the Redevelopment Agreement, the "Agreements ", each of
which are attached hereto in substantially final form; and
NOW, THEREFORE, BE IT RESOLVED as follows:
Section 1. The Agreements are 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 forms attached hereto, 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 Agreements in accordance with the terms of Section 1 hereof, to attest to
the Authorized Officer's execution of the Agreements and is hereby further authorized
and directed to thereupon affix die seal of the Borough to the Agreements.
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.
NO.
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Section 4. Upon the Redeveloper's execution and delivery of the Agreements,
the Redeveloper shall be hereby deemed as the redeveloper of the Redevelopment 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 2 nd day of June, 2016
and certified as a time copy of the
original on June 3, 2016.
KATHLEEN M. BARNEY, Miv1C
Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN 1
YES
NO
NV
A.B.
COUNCILMAN
YES
NO
NV
A.B.
DJAZ
X
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X - Indicate Vole AB - Absent NV - Not Voting XOR - Indicates Vote to Ocenvle veto
Adopted at a meeting of the Municipal Cannot
Ju 2, 2016