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HomeMy Public PortalAboutr 16-189A L > 'q ui tution No 16 -189 Jaf :fly 0a°aglj 010 arknA, �r- �- 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