HomeMy Public PortalAboutr 18-184Psefullio n of the 3orvugh of Carteret,
No. 18 —:184
11 Date of Adoptio SEPtenber 6 2 018
RESOLUTION OF THE BOROUGH OF CARTERET, IN THE
COUNTY OF MIDDLESEX AUTHORIZING EXECUTION OF
REDEVELOPMENT AGREEMENT
WHEREAS, under the New Jersey Local Redevelopment and Housing Law, N.J.SA.
40A:12A -1 et seq. (the "Redevelopment Law "), 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 Borough's tax map (collectively, the "Redevelopment
Area "), as an area in need of redevelopment pursuant to the Redevelopment Law; and
WHEREAS, the Borough Council adopted a redevelopment plan for the Redevelopment
Area, dated September 11, 2006 (the "Redevelopment Plan "); and
WHEREAS, Federal Business Centers Inc. ( "FBC "), is the owner of the real property
designated on the Borough's Tax Map as Block 2802, Lot 9 (formerly Block 64.01, Lots
6.01 and 6.02) (the "Project Area "), which real property is located in the
Redevelopment Area; and
WHEREAS, 120 Raskulinecz Road Urban Renewal LLC (the "Redeveloper ") will lease
the Project Area from FBC pursuant to a ground lease; and
WHEREAS, the Redeveloper proposes to redevelop the Project Area by constructing
thereon a project consisting of an approximately 91,328 square foot
warehouse /distribution facility and related on- and off -site improvements (the "Project'):
and
WHEREAS, the Borough now desires to authorize the execution of a redevelopment
agreement with the Redeveloper (the "Redevelopment Agreement ") for the
redevelopment of the Project Area, in substantially the same form as that on file with the
Borough.
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 Mayor is authorized to execute the Redevelopment Agreement
for the redevelopment of the Project Area, in substantially the same form as that on file
with the Borough, subject to minor modification or revision, as deemed advisable by the
Borough's Director of Law and /or Special Redevelopment Counsel, and any competent
party is authorized to attest same.
Section 3. The Mayor is further authorized to take any and all actions and to
execute such other documents as may be necessary to effectuate the terms of the
Redevelopment Agreement, as deemed advisable by the Borough's Director of Law
and /or Special Redevelopment Counsel.
13030 - 075.803645.1
NO. 18 -184
PAGE 2
Section 4. 120 Raskulinecz Road Urban Renewal LLC is hereby designated
as the exclusive Redeveloper of the Project Area, so long as the Redevelopment
Agreement is in effect.
Section 5. This resolution shall take effect immediately.
Adopted this 6` day of September. 2018
And certified as a true copy of the
Original on September 7, 2018.
KATHLEEN M. BARNEY. MMC
Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.B.
COUNCILMAN
YES
NO
NV
A.B.
BRLIM
X
Jai&L
X
DIAZ
X
KEbM
X
DE -ASao
X
NA=
X
X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council
SepteTimr ti, 2018
0
CL 611K
NIE