HomeMy Public PortalAboutr 04:053No. #04-53 Date of Adoption February 5, 2004
AUTHORIZING THE MAYOR TO EXECUTE A REDEVELOPMENT
AGREEMENT BETWEEN THE BOROUGH OF CARTERET
AND TITAN-PDC CARTERET, LLC
WHEREAS, on August 1, 1995, pursuant to the provisions of P.L. 1995, c. 173, codified
at, N.J.S.A. 40A:12A:12A-50 et seq. (the "1995 Landfill Law"), Borough adopted
Ordinance #95-40 which established a landfill reclamation improvement district
consisting of certain real property in the Borough as identified in such ordinance (the
"Initial District"); and
WHEREAS, pursuant to the 1995 Landfill Law, the Borough was deemed to have
adopted a redevelopment plan at the time the Initial District was established; and
WHEREAS, on November 2, 1995, the Borough Council adopted Resolution #95-346
relating to a redevelopment plan for the Initial District; and
WHEREAS, on June 6, 1996, pursuant to the 1995 Landfill Law, the Borough Council
adopted Ordinance #96-14, which expanded the boundaries of the Initial District to
include those properties identified in such ordinance (as expanded, the "District"); and
WHEREAS, on July 22, 1996, the 1995 Landfill Law was amended and supplemented
by P.L. 1996, c.73 (the 1995 Landfill Law as amended thereby and as amended
thereafter, the "Landfill Law"); and
WHEREAS, on March 7, 1997, Borough and the Bellemead Development Corp.
("Bellemead") entered into a redevelopment agreement relating to the District (the
"Bellemead Agreement"); and
WHEREAS, subsequent to that time, the Borough has been negotiating with
representatives o£ Titan-PDC Carteret, LLC ("Titan"), with the acknowledgement and
approval of Bellemead, regarding a replacement redevelopment agreement for the
Bellemead Agreement; and
WHEREAS, the Borough and Titan have reached an agreement on the terms and
conditions for a replacement redevelopment agreement and are desirous of memorializing
the same into a formal redevelopment agreement (the "Titan Agreement"); and
WHEREAS, simultaneously with the execution o£ the Titan Agreement, the Borough
and Bellemead will be executing a document terminating the Bellemead Agreement and
ultimately releasing each other fi.om all claims arising out of' the Bellemead Agreement
("Bellemead Release"); and
~o. ~0~-53 PAOE 2 of 2
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 the Titan Agreement, a copy of which is attached hereto and be made apart
hereof, be and is hereby approved;
2. that the Mayor and appropriate Borough officials are hereby authorized to
execute said Agreement on behalf of the Borough;
3. that the Mayor and appropriate Borough officials are hereby authorized to
execute the Bellemead Release and any other ancillary documents associated
with and/or required by the Titan Agreement, all in a form acceptable to the
Borough Attorney.
4. that the appropriate Borough officials are hereby authorized to take the
appropriate action to implement the Titan Agreement pursuant to its terms and
as approved by the Borough Attorney; and
5. that the designated duly executed originals and necessary copies of the Titan
Agreement shall be distributed as directed by the Borough Attorney.
Adopted this 5® day of February, 2004
and certified as a true copy of the
original on February 6, 2004.
KATHLEEN M. BARNEY, RMC/CMC
Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN YES NO NV A.B. COUNCILMAN YES NO NV A.B.
~mTM X RIOS X
NAPLES X I S ITARZ X
PARISI X [[ SOSNOWSKI X
X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto
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Adopted at a meeting of the Municipal Council
/~~_February 5, 2004