HomeMy Public PortalAboutr 22-198lboolution of #4e jgvrvu�4 of (adore#, � J�
Ne.#22-198 (miss -listed as #22-188,
11 Date of Adoptio September 22, 2022
RESOLUTION OF THE BOROUGH OF CARTERET, IN THE
COUNTY OF MIDDLESEX, NEW JERSEY DESIGNATING
REDEVELOPER AND AUTHORIZING EXECUTION OF
REDEVELOPMENT AGREEMENT AND PURCHASE AND
SALE AGREEMENT IN CONNECTION THEREWITH
WHEREAS, the governing body (the "Borough Council") of the Borough of Carteret
(the `Borough") is authorized under the Local Redevelopment and Housing Law,
N,J.S.A. 40A:12A-1 et seq. (the "Redevelopment Law") to designated land located
within the Borough as area(s) in need of redevelopment; and
WHEREAS, the Borough Council designated the properties identified as Block 402,
Lots 11, 12, 24 & 25 and Block 305 Lots 3, 4, & 5 on the Borough's official tax maps
(die "Redevelopment Area") as an "area in need of redevelopment"; and
WHEREAS, the Borough Council adopted a redevelopment plan for the Redevelopment
Area (as amended, the "Redevelopment Plan"); and
WHEREAS, the Borough is the contract purchaser of the property located in the
Redevelopment Area identified as Block 402, Lots 24 and 25 on the Borough's official
tax map and having the street address of 237 Roosevelt Avenue (together, the "MFCU
Parcel"); and
WHEREAS, two other parcels located within the Redevelopment Area, Block 402, Lots
1 I and 12, as identified on the, official tax map of the Borough, are presently owned by
third parties (together, the "Additional Property") and the Borough anticipates acquiring
such properties; and
WHEREAS, 237 Roosevelt Avenue Redevelopment, LLC (the "Redeveloper"),
proposes to purchase the MFCU Parcel and the Additional Property from the Borough
(collectively, the "Project Area") and to redevelop same by constructing thereon
approximately 257 residential units; ancillary retail/commercial space, tenant amenities
and rooftop space (collectively, the "Project"); and
WHEREAS, the Borough Council desires to: (1) designate Redeveloper as
"redeveloper" (as defined in the Redevelopment Law) of the Project Area, (2) authorize
the execution of a Redevelopment Agreement (the "Redevelopment Agreement") with
Redeveloper and (3) authorize the execution of a Purchase and Sale Agreement (the
"Purchase and Sale Agreement") with Redeveloper.
NOW, THEREFORE BE IT RESOLVED by the Borough Council of the Borough of
Carteret, in the County of Middlesex, New Jersey, as follows:
Section 1. The aforementioned recitals are incorporated herein as though fully
set forth at length.
Section 2. The Borough Council hereby authorizes the Mayor to execute, and
the Borough Clerk to attest, the Redevelopment Agreement, in
substantially the same form as that on file with the Borough Clerk
and which, by this reference is incorporated herein, with such
additions, deletions and modifications as may be necessary after
consultation with the Borough's professional consultants and the
Redeveloper.
NO. #22-198 (miss -listed as #22-188) PAGE 2 of 2
Section 3. The Borough Council hereby authorizes the Mayor to execute, and
the Borough Clerk to attest, the Purchase and Sale Agreement, in
substantially the same form as that on file with the Borough Clerk
and which, by this reference is incorporated herein, with such
additions, deletions and modifications as may be necessary after
consultation with the Borough's professional consultants and the
Redeveloper.
Section 4. Upon execution of the Redevelopment Agreement, Purchase and
Sale Agreement, and the acquisition, by the Redeveloper, of the
entire Project Area, and so long as the Redevelopment Agreement
remains in full force and effect, the Redeveloper, is hereby
designated as the "redeveloper" of the Project Area in accordance
with the Redevelopment Law.
Section 5. This Resolution shall take effect immediately.
Adopted this 22"d day of September, 2022
and certified as a true copy of the
original on September 23, 2022.
CARMELA POGORZELSKI, RMC
Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.B.
COUNCILMAN
YES
I NO
I NV
A.B.
BELLING
X
JOIIAL
X
DIAZ
X
DIMASCIO
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NAPLES
X
X- Indicate Vote AB - Absent NV - Not Voting XOR- Indicates Vote to Overrule Vclo
Adopted at a meeting of the Municipal Council
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September 22 20 2
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