HomeMy Public PortalAboutOrd. 17-01No. 17 -1 of Ify
�3 aroug1l of garltrd,
ORDINANCE OF THE BOROUGH OF CARTERET, COUNTY OF
MIDDLESEX, NEW JERSEY APPROVING APPLICATION FOR
FINANCIAL AGREEMENT
WHEREAS, the Borough of Carteret (the "Borough ") designated the properties
formerly known as Block 49.01, Lots 4, 9 and 11, Block 49.02, Lot 2, Block 64.01, Lots 1, 2, 3,
4.01, 4.04, 5, 6.01, 6.02, 7 and 8 and Block 64.02, Lots 2.01 and 2.02 on the tax map of the
Borough as an area in need of redevelopment pursuant to the Redevelopment Law; and
WHEREAS, Federal Business Centers, Inc. ( "FBC ") is the owner of the real property
located in the Borough and shown on the Borough's tax map as Block 2802, Lots 1 (formerly
Block 64.01, Lot 1) and 3 (formerly Block 64.01, Lot 3) (the "Project Area "), which real
property is located in the Redevelopment Area; and
WHEREAS, 1500 Blair Road 2016 Urban Renewal, LLC (the "Redeveloper ") leases
the Project Area from FBC pursuant to a certain ground lease dated September 2016; 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 156,067 square foot, warehouse /distribution 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 Agreemenf'), 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 IT 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 with 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 LINE
RECORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.B.
COUNCILMAN
YES
NO
NV
A.B.
BCLLINO
X
JOHAL
X
DIAZ
X
KRIJM
X
DIMASCIO
X
- NAPLES
X
X - Indicate Vote AB - Absent NV - Not Voting
XOR - Indicates Vote to Overrule Veto
Adopted on first reading of the Council of the Borough of Carteret, N.7., on 11,gn clams : ,_FAY 9, 201
Adopted on second reading after hearing on Febn ary 23, 2017
APPROVED BY p '
ON i�'� MAYOR
'
/
BOROUGH C ERIC
J
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:
February 16, 2017
. OLZ
No ary Pu i .o. ew ersey
CARMELA POGORZELSKI
NOTARY PUBLIC OF NEW JERSEY
fV1y COIRIPrliaSion E Tres 9/2 /2v�`
'Sworn and subscri edbefore
me this day of . Z�a 14
1
Kathleen M. Barney, MMO
Municipal Clerk
ORDINANCE # 17 -1
ORDINANCE OF THE BOROUGH OF
CARTERET, COUNTY OF
MIDDLESEX, NEW JERSEY APPROV-
ING APPLICATION FOR
FINANCIAL AGREEMENT
The foregoing ordinance was intro-
duced at a meeting of the Council of
the Borough of Carteret held Febru-
ary 9, 2017 when it was adopted on
first reading. The purpose of the or-
dinance is to approve an application
submitted by 1500 Blair Road 2016
Urban Renewal, LLC (the "Redevel-
oper") to make payments to the Bor-
ough in lieu of taxes in connection
with the Redeveloper's construction
of an approximately 156,067 square
foot warehouse /distribution facility
in an area designated as an area in
need of redevelopment, and to ap-
prove and authorize the Mayor to
execute a Financial Agreement be-
tween the Redeveloper and the Bor-
ough. The said ordinance will be fur -'
ther considered on second reading
for final adoption at a meeting of
said Council of the Borough of
Carteret on February 23, 2017 at ap-
proximately 6:00 P.M., Borough
Hall /Council Chambers, 61 Cooke
Avenue, Carteret, New Jersey at
which time and place all persons in -',
terested will be given an opportuni-
ty to be heard. A copy of the ordi-
nance, the application and Financial
Agreement can be obtained without
cost by any member of the general
public in the office of the Municipal
Clerk of the Borough of Carteret at
the Memorial Municipal Building, 61
Cooke Avenue, Carteret, New Jersey
07008, during regular business
hours.
Kathleen M. Barney, MMC
Municipal Clerk
2/16/2017 $77.50
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:
Sworn and spbscribeq before
me this rz day of - �t
CARMELA POGORZELSKI
NOTARY PUBLIC OF NEW JERSEY
My Commission Expires 9127/2097
Kathleen M. Barney, MMCj
Municipal Clerk
ORDINANCE #17 -1
ORDINANCE OF THE BOROUGH OF
CARTERET, COUNTY OF MIDDLESEX,
NEW JERSEY APPROVING
APPLICATION FOR
FINANCIAL AGREEMENT
APPROVED AND ADOPTED: FEBRU-
ARY 23, 2017
INTRODUCED: FEBRUARY 9, 2017
Advertised as Adopted on First
Reading
with notice of Public Hearing: FEB-
RUARY 16, 2017
Hearing Held: FEBRUARY 23, 2017
Approved By: MAYOR DANIEL J.
REIMAN
Advertised as Finally Adopted:
MARCH 3, 2017
KATHLEEN M. BARNEY, MMC
Municipal Clerk
3/3/2017 $32.55
March 3, 2017