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HomeMy Public PortalAboutr 17-228�Resvluft o #4e oroug4 af Earteret, �'- - No. 17 -228 Date of Adoption DszE ber 7, 201 RESOLUTION OF THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX REGARDING CONDITIONAL REDEVELOPER DESIGNATION WHEREAS, the Borough previously conditionally designated 700 Federal Boulevard, 2016. LLC ("700 Federal "). an affiliate of Hampshire Real Estate Companies, as the redeveloper of a portion of the Federal Boulevard Redevelopment Area. Phase I consisting of Block 2802. Lots 2, 4, 5. 6. 7, 8 & 9 (the "Project Area ") under the New Jersey Local Redevelopment and Housing Law. N.J.S.A. 40A:12A -1 et seq., through December 31, 2017, and WHEREAS, the Borough and 700 Federal are continuing to negotiate terms of a redevelopment agreement for the redevelopment of the Project Area. and WHEREAS, the Borough desires to extend the designation of 700 Federal as the conditional redeveloper of the Project Area. 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. 700 Federal is hereby designated as conditional redeveloper the Project Area through June 30, 2018 or until such time as the Borough and 700 Federal enter into a redevelopment agreement for the Project Area, whichever is earlier. Section 3. This resolution shall take effect immediately. Adopted this 7 ° i day of December, 2017 and certified as a true copy of the original on December 8. 2017. KATHLEEN M. BARNEY, MMC Municipal Clerk RECORD OF COUNCIL VOTE COUNCILMAN YES NO NV A.B. COUNCILMAN YES NO NV A.B. BEILim X JaiAL X KEIM X X MAPLES X X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto Adopted at a meeting of the Municipal Council i 7 M17 vLC� LER