HomeMy Public PortalAboutOrd. 23-23No. #23-23 of tht
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ORDINANCE OF THE BOROUGH OF CARTERET, IN THE COUNTY OF
MIDDLESEX, NEW JERSEY CONSENTING TO TRANSFER OF FINANCIAL
AGREEMENTS FOR 200 FEDERAL AND
120 RASKULINECZ
WHEREAS, on February 26, 2020, the Borough of Carteret and 200 Federal 2019 Urban Renewal LLC
(the "200 Federal Transferor') entered lain a Financial Agreement (the "200 Federal Financial
Agreement") in connection with the construction by the 200 Federal Transferor of two warehouse and
distribution facilities totaling 104,800 square feet (the "200 Federal Project") on Block 2801, Lot 3
(formerly Lots 2 and 3, and a portion of Lot 1) (the "200 Federal Project Site"); and
WHEREAS, die 200 Federal Project was completed on October 22, 2021; and
WHEREAS, the 200 Federal Transferor seeks to transfer its interest in the 200 Federal Project, the 200
Federal Project Site and the 200 Federal Financial Agreement to TA Federal Urban Renewal LLC Sthe
"200 Federal Transferee"); and
WHEREAS, on May 14, 2020, the Borough and 120 Raskulinecz Road Urban Renewal LLC (the 11120
Raskulinecz Transferor") entered into a Financial Agreement (file "120 Raskulinecz Financial Agreement")
in connection with the construction by the 126 Raskulinecz Transferor of an 84,628 square foot warehouse
and distribution facility (the"120 Raskulinecz Project") on Block 2802, Lot 9 (formerly Block 64.01, Lots
6.01 and 6.02) (the "120 Raskulinecz Project Site"); and
WHEREAS, the 120 Raskulinecz Project was completed on December 22, 2021; and
WHEREAS, the 120 Raskulinecz Transferor seeks to transfer its interest in the 120 Raskulinecz Project,
the 120 Raskulinecz Project Site and the 120 Raskulinecz Financial Agreement to TA Raskulinecz Urban
Renewal LLC (the "120 Raskulinecz Transferee").
NOW, THEREFORE, BE IT ORDAINED BY THE BOROUGH COUNCIL OF THE BOROUGH
OF CARTERET, NEW JERSEY AS FOLLOWS:
Section 1. The Recitals are incorporated by reference as if set forth at length herein
Section 2. The Borough hereby consents to and approves the transfer of the 200 Federal
Transferor's interest in the above -referenced 200 Federal Project, 200 Federal
Project Site and 200 Federal Financial Agreement to the 200 Federal Transferee,
provided that the 200 Federal Transferee receive approval from the New Jersey
Department of Community Affairs as an Urban Renewal Entity.
Section 3, The Borough hereby consents to and approves the transfer of the 120
Raskulinecz Transferor's interest in the above -referenced 120 Raskulinecz
Project, 120 Raskulinecz Project Site and 120 Raskulinecz Financial Agreement
to the 120 Raskulinecz Transferee, provided that the 200 Federal Transferee
receive approval from the New Jersey Department of Community Affairs as an
Urban Renewal Entity.
Section 4. The Mayor is authorized to execute estoppel certificates and any other
documents customary and reasonable to complete such transfers,
Section 5. This ordinance shall take effect in accordance with applicable law.
RECORD OF COUNCIL. VOT);
COUNCILMAN
YIIS
—il—
NO
NV
A.D.
COUNCILMAN—
YES
NO
NY
A.B.
BELI.INO
X
JOHAL
X
DIAZ
R
KRUM
X
DIMASCIO
$
APLES
$
X- Indicate Vote AD - Absent NV -Not Voting XOR- Indicates Vote to Overrule Veto
Adopted on first reading of the Council of the Borough of Carteret, N.J., on
A pt on econdre 'ng rh 'rl on October 5 2023
September 21, 2023
APPROVED IIY
ON
MAYOR
t
AFFIDAVIT OF PUBLICATION
The following is a true copy of an Ordinance or Resolution of
the Borough of Carteret that has appeared in the Home News
Tribune, a newspaper which is printed in Freehold, New
Jersey and published in Neptune, in said County and State and
of general circulation in said county. One 1 time(s), once in
each issue as follows:
September 27, 2023
Municipal Clerk
of New Jersey
Sworn and Subscribed before
me this day of s°a3
AFFIDAVIT OF PUBLICATION
The following is a true copy of an Ordinance or Resolution of
the Borough of Carteret that has appeared in the Home News
Tribune, a newspaper which is printed in Freehold, New
Jersey and published in Neptune, in said County and State and
of general circulation in said county. One 1 time(s), once in
each issue as follows:
October 11, 2023
Municipal Clerk
of New Jersey
Sworn and subscribed before
me this -11t day of 49,L jA bLt.4a a,_�