HomeMy Public PortalAboutr 16-189A L > 'q ui tution
No 16 -189
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Date of Adoptio RMAPX 3 2016
RESOLUTION OF THE BOROUGE OF CARTERET, TN THE COUNTY
03 MIDDLESEX, DESIGNATING CARTERET BUSINESS
PARTI3ERSPIIP, ENC AS REDEVELOP= C'F A PflRTIOi"T 07 THE
C'OOKE AVENUE IV =D USE REDEVELOPMENT A REA AND
AUTEOP=G EXECUTION OF A REDEVELOPMENT AGREEMENT
ICI T CiDIMUCTION THERE Ili COi`TINEC',IION1 WITH THE
CONSTRUCTION AND OPERATION OF A NEW PERFORt'vlRxTG ARTS
CENTER A APPROVENC SPEC'T'RA VENUE NLI ,NAGEMENT AS
THE OPERATOR OF SUCH CAR TERT PERFORMING ARTS CENTER
WHEREAS, the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A -1 et sea.
(the "Redevelopment Lave "), authorizes municipalities to determine whether certain parcels of
land in the municipality constitute areas in need of redevelopment; and
c
AREAS, the Council (`Lhe "Borough Council ") of the Borough of Carteret (the
" Bornugh'% 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 13 (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'D 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.J.S.A. 40A:12A -3
and a redevelopment plan; and
WF7F'REAS the Borough has determined that the Carteret Business Partnership, Inc.
(the "Redeveloper D -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
tiVI IEREAS, pursuant to N.J.S.A. 40A:12 -4, the Borough Council has determined to act
as the "redevelopment entity" (as such term 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
WEREAS, the Borough desires to designate the Redeveloper as the "redeveloper" for
the Site, pursuant to Section S of the Redevelopment Law, to undertake the redevelopment of the
Site in accordance with the Redevelopment Plan; and
's,VHEREAS, the Borough further 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 parties, as well as the anticipated time frame for the completion of certain tasks; and
W=REA.S, the Redeveloper will enter into a management agreement with the Spectra
Venue Management, a Delaware limited partnership ( "Spectra ") to assist with the design of the
Project and, once constructed, to operate and maintain such facility,
doo
NO. 16 -189
PAGE 2
I
NOW, THEREFORE, BE 'U IT IS IIEREBY 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 hereby designates the Carteret Business Parmers'nip, Lc. as
Redeveloper for the Project and approves Spectra Venue Management as the operator of the
Project.
Section 3. The Mayor is 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 same. The Mayor is further authorized to execute a management agreement
with the Spectra for the operation of the Project, 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 same.
Section 4. This Resolution shall take effect immediately.
Acbpte3 this 3rd day of Nwariber, 2016
and certified as a trm copy of the
o riginal on Nwe ber 4, 2016.
K UIEE 1 M. BW E SY, "E
M ddpal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN I YES
NO
NV
A.B.
COUNCILMAN
YES
NO NV A.B.
BaLRU X
JOHAL
X
DIAZ X
Kid
CIO
X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council
b vEn1= 3, 2016
�,�~ CLERK