HomeMy Public PortalAboutr 20-159�Rezulutivu of toe �]Vrmg4 of Tartexet, N 5.
No. #20 -159
Date of Adoptio October 15. 2 020
RESOLUTION OF THE BOROUGH OF CARTERET
DESIGNATING CARTERET LOGISTICS, LLC, AS
REDEVELOPER OF CERTAIN PROPERTY KNOWN AS BLOCK
602, LOT 1, BLOCK 603, LOT I AND BLOCI{ 705, LOT 18 ON
THE OFFICIAL TAX MAPS OF THE BOROUGH AND
AUTHORIZING THE BOROUGH TO ENTER INTO CERTAIN
AGREEMENTS WITH THE REDEVELOPER
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 seq., and together with the Tax Exemption Law, the "Acts "), has
designated certain properties in the Salt Meadows as an area in need of redevelopment
(the "Redevelopment Area "); and
WHEREAS, pursuant to N.J.S.A. 40A:12A -7; the Borough has adopted a redevelopment
plan governing the Redevelopment Area; and
WHEREAS, Carteret Logistics, LLC, has entered into a contract with Rahway Arch
Properties, LLC (the "Current Owner ") to purchase a portion of the Redevelopment Area
consisting of Block 602, Lot 1, Block 603, Lot I and Block 705, Lot 18 (the "Property ");
and
WHEREAS, the Borough desires to designate Carteret Logistics, LLC (the
"Redeveloper ") as the redeveloper of the Property and enter into one or more agreements
regarding the redevelopment of the Property, including without limitation, a
Redevelopment Agreement, the form of which is attached hereto as Exhibit A .
NOW, THEREFORE, BE IT RESOLVED as follows:
Section 1. Carteret Logistics, LLC, and/or an Urban Renewal Entity ( "ORE ")
which may be formed subsequently and which will be wholly
owned by Carteret Logistics, LLC, is hereby designated as the
redeveloper of the Property.
Section 2. The Borough hereby consents to the transfer of the Property from
the Current Owner to the Redeveloper.
Section 3. The Redevelopment Agreement is hereby authorized to be
executed and delivered on behalf of the Borough by either the
Mayor, Chief Financial Officer or Director of Law (each an
"Authorized Officer "), in substantially the form attached hereto as
Exhibit A , respectively, with such changes as an Authorized
Officer, in its respective sole discretion, after consultation with
such counsel and any advisors to the Borough (collectively, the
"Borough Consultants "), as such Authorized Officer deems
necessary, desirable or convenient in such Authorized Officer's
sole discretion.
Section 4. The Borough Clerk is hereby authorized and directed, upon the
execution of the Redevelopment Agreement in accordance with the
terms of Section 3 hereof, to attest to the Authorized Officer's
execution of each of the Agreements and is hereby further
NO. #20 -159
PAGE 2
authorized and directed to thereupon affix the seal of the Borough
to each of the Agreements.
Section 5. The Authorized Officers are each hereby further authorized to
perform any act, execute or acknowledge and deliver any other
document, instrument, agreement, deed or certificate, which the
Authorized Officer, after consultation with the Borough
Consultants, deems necessary, desirable or convenient and the
Borough Clerk is hereby further authorized and directed to attest to
such execution or acknowledgement and to affix the seal of the
Borough to any such document, instrument or certificate.
Section 6, All actions of the Authorized Officers and the Borough
Consultants taken prior to the date of adoption hereof in
connection herewith are hereby ratified and approved.
Section 7. Upon the adoption hereof, the Borough Clerk shall forward
certified copies of this resolution to Matthew C. Karrenberg, Esq.,
DeCotiis, FitzPatrick, Cole & Giblin, LLP, Special Redevelopment
Counsel to the Borough.
Adopted this 15 day of October, 2020
and certified as a true copy of the
original on October 16, 2020.
CARMELA POGORZELSKI
Acting Municipal Clerk
RECORD OR COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.D.
COUNCILMAN
YES
NO
NV
A.D.
BELLINO
X
JOHAL
X
X
DIAZ
X
KRUM
DIPIASCIO
X
NAPLES
X- Indicate Vote AB- Absent NV -Not Voting XCR -Indicates Vote to Ovemile Yale
Adopted at a meeting of the Municipal Council
October 15 2010
s o,
. It,'
Acting Mumcipa'i Clerk q.,.,
EXHIBIT A
FORM OF REDEVELOPMENT AGREEMENT