HomeMy Public PortalAboutr 03:228No. 03-228 Date of Adoption July 26~ 2003
DESIGNATING CARTERET LANDING, LLC, AS
THE REDEVELOPER FOR A PORTION OF THE CARTERET
CHROME WATERFRONT REDEVELOPMENT DISTRICT
WHEREAS, by Ordinance No. 03-07, passed on February 6, 2003, the
Borough of Carteret adopted the Redevelopment Plan for the redevelopment of
the Chrome Waterfront Redevelopment District ("CWRD"); and
WHEREAS, on February 21, 2003, the Borough issued a Request for
Proposals, soliciting proposals for the redevelopment of a portion of the CWRD;
and
WHEREAS, Carteret Landing, LLC, ("Carteret Landing") consisting of
the affiliated companies of the Atlantic Realty Development Corporation,
Roseland Property Company and BNB Associates was one of three developers
who submitted a proposal for the redevelopment of the CWRD; and
WHEREAS, Carteret Landing was one of the three developers invited to
make a formal presentation of their proposal to the Mayor and Council; and
WHEREAS, Carteret Landing is proposing development of a mixed use,
transit-oriented project consisting of commercial, office, retail, recreation and
residential uses; and
WHEREAS, after a review of all proposals, the Mayor and Council have
determined that the proposal from Carteret Landing is consistent with the Request
for Proposals and the Borough's redevelopment plan and, further, meets the goals
and objectives that the Borough has established for the CWRD; and
WHEREAS, the Borough wishes to engage in preliminary negotiations
with Carteret Landing in furtherance of entering into a formal redevelopment
agreement, with said preliminary negotiations to include the receipt and review of
additional project specific information from Carteret Landing.
NOW THEREFORE, BE IT RESOLVED by the Mayor and Council of
the Borough of Carteret, County of Middlesex, State of New Jersey as follows:
1. That Carteret Landing, a consortium of Atlantic Realty
Development Corporation, Roseland Property, BNB Associates,
with offices located at 90 Woodbridge Center Drive, Woodbridge,
NJ, is hereby conditionally designated as the redeveloper for
referenced portion of the CWRD and has, at the sole and exclusive
discretion of the Borough, the option to negotiate a redevelopment
agreement with the Borough for the desig~nated properties located
within the CWRD.
2. That the within designation is hereby made for a period of ninety
(90) days, and is further contingent upon Carteret Landing,
NO. 03-228 PAGE
providing the additional project related information as may be
requested by the Borough.
3. That said conditional designation is additionally contingent upon
Carteret Landing agreeing to reimburse the Borough for any and
all costs associated with the Borough's review of said additional
material and any subsequent efforts involved in negotiating a
formal redevelopment agreement between the Borough and
Carteret Landing. Said costs shall include, but not limited to, the
cost of any and all professional consultants retained by the
Borough to review said materials and/or assist the Borough in
negotiations of a formal redevelopment agreement.
4. That said designation may be extended at the sole and exclusive
' ,, discretion of the Borough.
Adopted this 24the day of July, 2003 and
certified as a true copy of the original on
July 25, 2003.
KATHLEEN M. BARNEY, RMC/CMC
Municipal Clerk
RECORD OF COUNCIL VOTE TL
X * Indicate Vote AB - Absenl NV
Adopted at a ,heeling of the Muoicipal Council