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Home My Public Portal AboutOrd. 18-19No. 18-19 of toe Poroug4 of Tarteret, N. J� Councilman Presents the following Ordinance Seconded by Councilman AN ORDINANCE OF THE BOROUGH OF CARTERET AUTHORIZING THE EXECTION AND DELIVERY OF A FINANCIAL AGREEMENT BY AND BETWEEN THE BOROUGH OF CARTERET AND RIA HOSPITALITY URBAN RENEWAL LLC WHEREAS, the Borough Council, in accordance with the Redevelopment and Housing Law, constituting Chapter 79 of the Pamphlet Laws of 1992 of the State, and the acts amendatory thereof and supplemental thereto (the "Redevelopment Law ", as codified in N.J.S.A. 40A:12A -1 et M., and together with the Tax Exemption Law, the "Acts "), has designated certain properties along Roosevelt Avenue as an area in need of redevelopment (the "Redevelopment Area "); and WHEREAS, RIA Hospitality Urban Renewal, LLC (the "Redeveloper ") is the fee title owner of certain property commonly known as 1179 and 1235 -1239 Roosevelt Avenue and identified as Block 2701, Lots 13, 14 and 14.01 on the official tax maps of the Borough (the "Property "), which property is located in the Redevelopment Area; and WHEREAS, on March 18, 2015, the Redeveloper entered into a Redevelopment Agreement, as amended and supplemented (the "Redevelopment Agreement "), with the Carteret Redevelopment Agency (the "Agency ") regarding the redevelopment of the Property; and WHEREAS, pursuant to and in accordance with the provisions of the Tax Exemption Law, the Borough is authorized to provide for tax abatement within a redevelopment area and for payments in lieu of taxes; and WHEREAS, the Redeveloper has submitted an application to the Borough for the approval of the Project, as such term is defined herein, as an urban renewal project, as such term is used in the Tax Exemption Law, all in accordance with N.J.S.A. 40A:20 -8 (the "Exemption Application ", a copy of which is attached hereto as Exhibit A ); and WHEREAS, the Borough and the Redeveloper have reached agreement with respect to, among other things, the terms and conditions relating to the Annual Service Charges, as such term is defined herein, for the Property and desire to execute the Financial Agreement. NOW, THEREFORE, BE IT ORDAINED AND ENACTED by the Borough Council of the Borough of Carteret, County of Middlesex, New Jersey, as follows: Section 1. The Exemption Application is hereby accepted and approved. Section 2. The Financial Agreement is hereby authorized to be executed and delivered on behalf of the Borough by either the Mayor, the Chief Financial Officer or the Director of Law (each an "Authorized Officer ") in substantially the form attached hereto as Exhibit B , with such changes as an Authorized Officer, in their respective sole discretion, after consultation with such counsel and any advisors to the Borough (collectively, the "Borough Consultants ") shall determine, such determination to be conclusively evidenced by the execution of the Financial Agreement by an Authorized Officer as determined hereunder. The Borough Clerk is hereby authorized and directed to attest to the execution of the Financial Agreement by an Authorized Officer of the Borough as determined hereunder and to affix the corporate seal of the Borough to the Financial Agreement. Section 3. The Authorized Officers of the Borough are hereby further severally authorized and directed to (i) execute and deliver, and the Borough Clerk is hereby further authorized and directed to attest to such execution and to affix the corporate seal of the Borough to, any document, instrument or certificate deemed NO. 18 -19 PAGE 2 necessary, desirable or convenient by the Authorized Officers or the Borough Clerk, as applicable, in their respective sole discretion, after consultation with the Borough Consultants, to be executed in connection with the execution and delivery of the Financial Agreement and the consummation of the transactions contemplated thereby, which determination shall be conclusively evidenced by the execution of each such certificate or other document by the party authorized hereunder to execute such certificateor other document, and (ii) perform such other actions as the Authorized Officers deem necessary, desirable or convenient in relation to the execution and delivery thereof. Section 4. This ordinance shall take effect upon final passage and publication as required by law. Section 5. Upon final adoption hereof, the Borough Clerk shall forward certified copies of this Ordinance to Matthew C. Karrenberg, Esq., DeCotiis, FitzPatrick & Cole, LLP, Special Redevelopment Counsel to the Borough. DO NUT USE SPACE BELOW THIS LINE RECORD OF COUNCIL VOTE COUNCILMAN YES NO NV A.B. COUNCILMAN YES NO N1' A.B. BII.LM JCR4L DIAZ IQY 0 QO X NPPLFS 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.].. on _ 6, 2018 Adopted on second reading alltr heidrtFir Qe ceml�er 10!Z ' -ft APPROVED BY ON MUNICIPAL CLERK u 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: December 11, 2018 CARMELA POGORZELSKI NOTARY PUBLIC OF NEW JERSEY My Commission Expires 912712022 Kathleen M. Barney, MMC Municipal Clerk ey Sworn and subscribed before me this 11 day of, ZVCe�_hC,-'', ORDINANCE #18 -19 AN ORDINANCE OF THE BOROUGH OF CARTERET AUTHORIZING THE EXECUTION AND DELIVERY OF A FINANCIAL AGREEMENT BY AND BE- TWEEN THE BOROUGH OF CARTERET AND RIA HOSPITALITY URBAN RENEWAL LLC This ordinance provides for the exe- cution and delivery of a Financial Agreement between the Borough of Carteret and RIA Hospitality LLC who is the fee title owner of certain property commonly iden- tified as Block 2701, Lots 13, 14 and 14.01. The foregoing ordinance was intro- duced at a meeting of the Council of the Borough of Carteret held De- cember 6, 2018 when it was adopt- ed on first reading. The said ordinance will be further considered on second reading for fi- nal adoption at a meeting of said Council of the Borough of Carteret on December 27, 2018 at approxi- mately 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. Kathleen M. Barney, RMC /MMC Municipal Clerk 12/11/2018 $54.25 ADVANCE . media Star Ledger LEGAL AFFIDAVIT AD #:0008934134 Total $144.25 State of New Jersey,) ss County of Middlesex) Corey Prisco being duly swom, deposes that he /she is principal clerk of NJ Advance Media; that Star Ledger is a public newspaper, with general circulation in Atlantic, Burlington, Cape May, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties, and this notice is an accurate and true copy of this notice as printed in said newspaper, was printed and publish in t e regular edition and issue of said newspaper on the following date(s): Star Ledger 12111 Principal Clerk of the Sworn to and subscribed before me this 12th day of December 2018 Notary Public ORDINANCE 418 -19 AN ORDINANCE OF THE BOROUGH OF CARTERET AUTHORIZING THE EXECUTION AND DELIVERY OF A FINANCIAL AGREEMENT BY AND BE- TWEEN THE BOROUGH OF CARTERET AND RIA HOSPITALITY URBAN RENEWAL LLC This ordinance provides for the exe- cution and delivery of a Financial Agreement between the Borough of Carteret and RIA Hospitality LLC who is the fee title owner of certain property commonly iden- tified as Block 2701, Lots 13, 14 and 14.01. The foregoing ordinance was intro- duced at a meeting of the Council of the Borough of Carteret held De- cember 6, 2018 when it was adopt- ed on first reading. The said ordinance will be further considered on second reading for fi- nal adoption at a meeting of said Council of the Borough of Carteret on December 27, 2018 at approxi- mately 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. Kathleen M. Barney, RMC/MMC Municipal Clerk 12/11/2018 $54.25 JAN - 3 2019 Darian N Alexander Notary Public New Jersey Commission Expires November 13, 2022 No. 50071877