HomeMy Public PortalAboutOrd. 16-19Wrbinanu
No.�. of 444
�Nnraug4 of Tarfi?xd, �C J.
ORDINANCE OF THE BOROUGH OF CARTERET, COUNTY OF
M NEW JERSEY APPROVING APPLICATION FOR
FINANCIAL AGREEMENT
ViTIEREAS, 48 Leffert Street Urban Renewal, LLC (the "Redeveloper ") is the owner of
j property known as Block 5601, Lots 10, 11, 12, and 13 (collectively, 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, pursuant to which the Redeveloper agreed to redevelop the Project Area by
constructing thereon an approximately 96,000 square foot, multi - building, self- storage facility
(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
WHEREAS, 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 FT 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 vAth counsel.
Section 3. The Borough Clerk is hereby authorized and directed, upon execution of
the Financial Agreement by the Mayor, to attest to the signature of the Mayor.
Section 4. This ordinance shall take effect in accordance with applicable law.
DO NOT USE SPACE BELOW THIS LnJE
RECORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
NN
A.B.
COUNCIL \IAN
YES
NO
NV
A.B.
BFILM
X
DIAZ
X
DIl'ASCID
X
X
i
X - Indicate Vote AB - Absent NV -Not Voting XOR - Indicates Vote to Ovemde Veto
Adopted on first reading of the Council of the Borough of Carteret, N.] ., on �t114
Adopted on second reading after fi'o3lr6gon At ipisf 18, 2016
APPROVED BY
MAYOR
ON -1 1,
E..� f.
r /
n. _ BOROUGH CLERK
�.
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:
ORDINANCE k10 19
ORDINANCE OF THE BOROUGH OF
August 11,, 2016 CARTERET, COUNTY OF MIDDLESEX,
Notary Public of New Kathleen M. Barney, MMC
LINDA A. RIVERA Municipal Clerk
Nk)IARY PUBLIC
SIAII.OI AI"JERSEY
MY COMMISSION EXPIRES MAY 2, 2021
Sworn and Subscribed before
Me thisd of
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:
August 26, 2016
Notary Public of New Kathleen M. Barney, M�C
LINDA A. RIVERA Municipal Clerk
NOTARY PUBLIC p
STATE OF NEW JERSEY
MY COMMISSION EXPIRES M(,Y 2,202
Sworn and Subscribed before
Me this tL, day of