HomeMy Public PortalAboutr 23-072No. #23-72 Date of Adoption March 2, 2023
RESOLUTION OF THE BOROUGH OF CARTE RE, EXTENDING THE
CONDITIONAL DESIGNATION OF RE' DCO PROPERTY COMPANY, LLC
AS THE REDEVELOPER FOR THE PROPERTY COMMONLY REFERRED
TO AS BLOCK 2702, LOT 25 AND BLOCK 2706, LOTS 1 AND 2 ON THE
TAX MAPS OF THE BOROUGH OF CARTERET LOCATED WITHIN
THE WEST CARTERE'T MINUS STREET REDEVELOPMENT AREA
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, on September 22, 2022 the Borough Council adopted Resolution No. 22-
19E designating Redco Property Company, LLC (the "Company") as the conditional
redeveloper of Block 2702, Lot 25 and Block 2706, Lots 1 and 2 on the tax maps of the
Borough within the West Carteret Minue Street Redevelopment Area (the "Property") for
a certain period of time; and
WHEREAS, the Borough desires to extend the Company's conditional designation as
redeveloper of the Property; and
NOW, THEREFORE, BE IT RESOLVED as follows:
Section 1. The Company is hereby conditionally designated as the
redeveloper for the Property for an additional 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.
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 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 Company has not executed a redevelopment
agreement with the Borough, 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
Property shall expire and be of no further force and effect and the
Borough shall have no further obligation to the Company.
Section 4. All actions of the Authorized Officers and the Borough
Consultants taken prior to the date of adoption hereof in
connection with the Property are hereby ratified and approved.
Section 5. This resolution shall take effect at the time and in the manner
prescribed by law.
NO. #23-72
PAGE 2 of 2
Section 6. 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 tad day of March, 2023
and certified as a true copy of the
original on March 3, 2023.
CARMELA POGORZELSKI, RMC
Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.B.
COUNCILMAN
YES
NO
NV
A.B.
BELLING
$
JOHAL
X
DIAZ
$
I RUM
X
DIMASCIO
X
NAPLES
X
X- Indicate Vote AB - Absent NV - Not Voting XOR- Indicates Vote
to Overrule Veto
Adopted at a ¢reeling of the Municipal Council
Maro 2, 202�
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