HomeMy Public PortalAboutr 17-036L 17 -36 Dalc of Aduplion Fdxuary 9, 201
AUTHORIZING THE EXECUTION OF A REDEVELOPMENT
AGREEMENT WITH THE CARTERET BUSINESS
PARTNERSHIP, INC AS REDEVELOPER OF A PORTION OF
THE COOKE AVENUE MIXED USE REDEVELOPMENT AREA
IN CONNECTION WITH THE CONSTRUCTION AND
OPERATION OF A NEW PERFORMING ARTS CENTER
WHEREAS, the Local Redevelopment and Housing Law, N 1 40A:12A -1 et wo. (the "Redevelopment
Law "), authorizes municipalities to determine whether certain parcels of land in the municipality constitute areas in
need of redevelopment; and
WHEREAS, the Council (the "Borough Council ") of the Borough of Carteret (the "Borough "), by
Resolution No. 14 -71, duly adopted on April 10, 2014, designated certain property within the Borough, including,
without limitation, the property identified on the official tax maps of the Borough as Block 6501, Lot 18 (the "Site ") as
an area in need of redevelopment, pursuant to the Redevelopment Law (the "Redevelopment Area "); and
WHEREAS, on May 15, 2014 the Borough Council adopted an ordinance approving the "Cooke Avenue
Mixed Use Redevelopment Plan" (the "Redevelopment Plan ") for certain areas in the Borough, including the
Redevelopment Area; and
WHEREAS, the Redevelopment Law authorizes the Borough to arrange or contract for the planning,
construction or undertaking of any development project or redevelopment work in an area designated as an "area in
need of redevelopment', all pursuant to N.I.S.A. 40A:12A -8 and a redevelopment plan; and
WHEREAS, the Borough has determined that the Carteret Business Partnership, Inc. (the "Redeveloper ")
will redevelop the Site through the construction of a new performing arts center thereon (the "Project ") as envisioned
by the Borough and the Redeveloper pursuant to the Redevelopment Plan; and
WHEREAS, pursuant to N,1,S,A. 40A:12 -4, the Borough Council has determined to act as the
"redevelopment entity" (as such tern is defined at N.J.S.A. 40A:12A -3 of the Redevelopment Law) for the
Redevelopment Area; and
WHEREAS, the Borough Council has determined that the redevelopment of the Site in accordance with
applicable provisions of the Redevelopment Plan will contribute to the redevelopment and reinvigoration of the
Borough and to the social and economic improvement of the Borough in accordance with the legislative intent, goals
and objectives of the Redevelopment Law; and
WHEREAS, the Borough desires to authorize the execution of a redevelopment agreement with the
Redeveloper for the Site, which will set forth the rights and obligations of the respective ponies, as well as the
anticipated time frame for the completion of certain tasks.
NOW, THEREFORE, BE AND IT IS HEREBY RESOLVED by the Mayor and Council of Borough of
Carteret, in the County of Middlesex and the State of New Jersey, as follows:
Section 1. The aforementioned recitals are incorporated herein as though fully
set forth at length.
Section 2. The Borough Council President is hereby authorized to execute a
redevelopment agreement with the Redeveloper for the redevelopment of the Project Site,
in a form to be approved by the Borough's Director of Law and Special Redevelopment
Counsel, and any competent party is authorized to attest to same.
Section 3. This Resolution shall take effect immediately.
Pdoptied this 9th day of F& aLy, 2017
and ca ti-fied as a true copy of the
original. on F ebnmy 10, 2017
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Adopted at a meeting of the Municipal Council
I ,., Felx11ry 9
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COUNCILMAN
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X - ludieatc Voic AI) - Absent NV - Nut Vining XUR - indicates Vote to Overrule Vctu
Adopted at a meeting of the Municipal Council
I ,., Felx11ry 9
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