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HomeMy Public PortalAboutr 21-179lReoofutiou of toe 190roug4 of Tame et, Y� 51 #21 -179 Date of Adoption September 30, 2021 RESOLUTION OF THE BOROUGH OP CARTERET CONDITIONALLY DESIGNATING A REDEVELOPER FOR THE FOR CERTAIN PROPERTIES IN THE 237 ROOSEVELT AVENUE REDEVELOPMENT AREA AND AUTHORIZING THE EXECUTION AND DELIVERY OF A PRE - DEVELOPMENT AGREEMENT WHEREAS, the Local Redevelopment and Housing Law, N.J.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 ") declared an area consisting of Block 402, Lots 24 & 25 and Block 301, Lots 3, 4, & 5 on the Official Tax Map of the Borough as an area in need of redevelopment (collectively, the "Redevelopment Area "); and WHEREAS, the Borough adopted a redevelopment plan for the Redevelopment Area (the "Redevelopment Plan "), which shall control the redevelopment of the Redevelopment Area; and WHEREAS, the Borough desires to engage in preliminary negotiations with Ashling Development (the "Company "), in furtherance of entering into a formal redevelopment agreement for the redevelopment of that portion of the Redevelopment Area consisting of Block 402, Lots 24 & 25 (the "Project Area "); and WHEREAS, in furtherance of the same, the Borough desires to enter into that certain Pre - Development Agreement with the Company, in a form approved by the Borough Director of Law to establish an escrow fluid 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. The Company shall be conditionally designated as the redeveloper for the Project Area for an initial period of ninety (90) 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. This designation, in the discretion of the Borough, shall apply to the Company and/or any special purpose entity that the principals of the Company may elect to form, so long as the principals in and of the Company hold a controlling interest in such special purpose entity. Section 2. The Mayor, Chief Financial Officer, or Director of Law (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 I hereof, but in no event shall such additional period exceed one hundred and twenty (120) days beyond the time period set forth in Section 1 hereof. Section 3. In the event that the Company 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 1 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 Company 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 Company. NO. # PAGE 2 Section 4. The Pre - Development Agreement is hereby authorized to be executed and delivered on behalf of the Borough by an Authorized Officer in a form acceptable to the Borough Director of Law with such changes as such Authorized Officer, after consultation with the Borough Consultants, deems necessary, desirable or convenient in such Authorized Officer's sole discretion. Section 5. The Borough Clerk is hereby authorized and directed, upon the execution of the Pre - Development Agreement in accordance with the terms of Section 4 hereof, to attest to the Authorized Officer's execution of the Pre - Development Agreement and is hereby further authorized and directed to thereupon affix the seal of the Borough to the Pre- Development Agreement. Section 6. Upon the execution and attestation of and if required, the placing of the seal of the Borough on the Pre - Development Agreement as contemplated by Sections 4 and 5 hereof, the Authorized Officer is hereby authorized and directed to (a) deliver such filly executed, attested and sealed Pre - Development Agreement to the Company and (b) perform such other actions as the Authorized Officer deems necessary, desirable or convenient in relation to the execution and delivery thereof. 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, the 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. The within conditional designation shall void and nullify any prior such designations(s) for the Project Area. Adopted this 3011 day of September, 2021 and certified as a true copy of the original on October 1, 2021. CARMELA POGORZELSKI, RMC Municipal Clerk RECORD OF COUNCIL VOTE COUNCILMAN YES NO NV A.B. COUNCILMAN A.B. BELLING X JOHAL DIAZ X KR @1 RNO DIMASCIO X NAPLES X - Indicate Vote AB - Absent NV - Not Voting XOR- Indicates Vote to Overrate Veto Adopted at a meeting of the Municipal Council September 30, 2021 HUNICIPAL CLK k %)»% \:(2 \_cE 0 / ® - - / § {/ 0 0 \ -{ - ® \K) §J` - «!:2 { }\( \\ {) \iwJ \ /:± ( \ \�Zo �3y\ g \ / \/© > l;Ez /toc & / :2a? \ \\\ \ \j\ /\ z w S_ a O w w 0 U Z J Q w C N n E F w 0 a M � m O' O O N a w x T C v C � C O N N O E o n � m m � � E m v o v 0 U F a n w C N n E F w 0 a M N O N F- Z 0. 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