HomeMy Public PortalAboutr 21-115Yezolutiou of fhle Porvug4 of Tartezet, N. 51
V #21 -115 June 18 2021
o• Date of Adoption '
RESOLUTION OF THE BOROUGH OF CARTERET
CONDITIONALLY DESIGNATING FORTE AS THE
REDEVELOPER FOR THE LOCUST - ROOSEVELT
RE DE VELOPMENT ARE, A
WHEREAS, the Local Redevelopment and Housing Law, N.I.S.A. 40A:12A -1 et seq.,
as amended and supplemented (the "Redevelopment Law "), provides a process for
municipalities to participate in the redevelopment and improvement of areas in need of
redevelopment; and
WHEREAS, in accordance with the Redevelopment Law, the Borough of Carteret (the
"Borough ") previously determined, based upon the recommendation of the Borough's
Planning Board, that certain designated properties collectively constituted an area in need
of redevelopment under the law, and designated the same as the Locust - Roosevelt
Redevelopment Area, (collectively, the "Redevelopment Area "); and
WHEREAS, the Borough adopted an amended redevelopment plan for the
Redevelopment Area (the "Redevelopment Plan "), which shall control the redevelopment
of the Redevelopment Area; and
WHEREAS, the Borough desires to conditionally designate Forte Real Estate
Development, or its ultimate named affiliate entity ( "Forte "), as the Redeveloper for
purposes of engaging in negotiations with Forte in furtherance of entering into a formal
redevelopment agreement for the redevelopment of the Project Arear located within the
Redevelopment Area;
WHEREAS, the Borough desires to enter into that certain Pre- Development Agreement
with the Bank in a form and as recommended by the Borough's Law Director to establish
an escrow fund with the Borough to provide for the payment of the Borough's
professional fees, costs and expenses related to the Redevelopment Area and the
negotiation and execution of a redevelopment agreement and matters related thereto; and
NOW, THEREFORE, BE IT RESOLVED as follows:
Section 1. Forte is hereby conditionally designated as the Redeveloper for the
Project Area within the Locust — Roosevelt Redevelopment Areas for an initial period of
one hundred and twenty (120) days, or as otherwise may be extended in accordance with
Section 2 hereof, during which time negotiation and execution of a redevelopment
agreement with the Borough shall be completed.
Section 2. The Mayor, Chief Financial Officer, or Law Director (each an
"Authorized Officer ") are hereby each severally authorized, 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, to extend the time period set forth in Section 1 hereof, but in no
event shall such additional period exceed ninety (90) days beyond the time period set
forth in Section 1 hereof.
Section 3. In the event that the Forte has not executed a redevelopment
agreement or such other similar agreement with the Borough for the redevelopment of the
Project Area, all in accordance with the time periods set forth in Section I hereof, or as
otherwise may be extended by an Authorized Officer, in such Authorized Officer's sole
discretion, in accordance with Section 2 hereof, the Borough's conditional designation of
the Forte as redeveloper for the Project Area shall expire and be of no further force and
effect and the Borough shall have no further obligation to the Forte.
Section 4. The appropriate Borough Officials and/or Authorized Officers are
hereby authorized and directed to perform such other actions deemed necessary, desirable
or convenient to effectuate and implement the purposes provided for herein, including,
but not limited to, entering into a Pre - Development Agreement with Forte in a form
NO. #21_115
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acceptable to the Law Director for the payment of the Borough's professional fees, costs
and expenses related to the negotiation and execution of a redevelopment agreement and
matters related thereto .
Section 6. The appropriate Borough Officers and/or Authorized Officers are
hereby further authorized to execute and implement a formal Redevelopment Agreement
with Forte the Borough and Forte successfully negotiate such an agreement as provide for
herein, all in a form acceptable to the Borough's Law Director, and in such case, the
appropriate Borough Officials, and /or Authorized Officers, are hereby authorized and
directed to perform such other actions deemed necessary, desirable or convenient to
effectuate and implement the purposes provided for therein.
Section 7. All actions of the Authorized Officers and the Borough
Consultants taken prior to the date of adoption hereof in connection with the
Redevelopment Area, including without limitation, any Pre - Development Agreement, are
hereby ratified and approved.
Section 8: This resolution shall take effect at the time and in the manner
prescribed by law.
Section 9. Upon the adoption hereof, the Borough Clerk shall forward
certified copies of this resolution to Matthew C. Karrenberg, Esq., DeCotiis, Fitzpatrick
& Cole, LLP, Special Redevelopment Counsel to the Borough.
Adopted this 18" day of June, 2021
and certified as a true copy of the
original on June 18, 2021.
CARMELA POGORZELSKI, RMC
Municipal Clerk
RLCORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.B.
COUNCILMAN
YES
NO
NV
A.B,
BELLINO
X
JOHAL
X
DIAZ
X
KRUM
X
DIMASCIO
X
NAPLES
X
X - Indicate Vote AB- Absent NV - Not Voting XOR- Indicates Vote to Overrate Veto
Adopted at a meeting of the Municipal Council
�y June, 8, 2021
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