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HomeMy Public PortalAboutr 04:057 TEL (732) 541-3800 F~ (732) ~1-8925 OFFICE OF 61 COO~ AVENUE ~THLEEN M. BARNEY, RMC/CMC CARTERET, NEW JERSEY 07008 MUNICIPAL CLERK MEMORANDUM TO: PATRICK J. DEBLASIO BOROUGH TREASURER FROM: KATHLEEN M. BARNEY, RMC/CMC Municipal Clerk DATE: FEBRUARY 25, 2004 SUBJECT: RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE REDEVELOPMENT AGREEMENT WITH KAPLAN AT CARTERET, LLC FOR THE LOWER ROOSEVELT AVENUE REDEVELOPMENT AREA. ENCLS: CERTIFIED COPY OF RESOLUTION #04-57. KMB/cp cc: Borough Attorney File Date of Adoption February 10, 2004 No. #0~-57 AUTHORIZING THE MAYOR TO EXECUTE REDEVELOPMENT AGREEMENT WITH KAPLAN AT CARTERET,LLC FOR THE LOWER ROOSEVELT AVENUE REDEVELOPMENT AREA WHEREAS, the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, ct seq., as amended and supplemented ("Redevelopment Law"), provides a process for municipalities to participate in the redevelopment and improvement of areas in need of redevelopment; and WHEREAS, in order to stimulate redevelopment, the Borough Council, by resolution designated certain properties in the Chrome area of the Borough as a redevelopment area designated as the Lower Roosevelt Avenue Redevelopment Area in accordance with th~ Redevelopment Law ("Redevelopment Area") WHEREAS, on February 6, 2003, by Ordinance #03-02, the Borough Council adopted the Lower Roosevelt Avenue Redevelopment Plan ("Redevelopment Plan"), which sets forth, inter alia, the plan for the redevelopment of thc Redevelopment Area; and WHEREAS, the Borough entered into negotiations with representatives of Kaplan at Carteret, LLC, ("Kaplan"), as the redeveloper for the Redevelopment Area, regarding thc terms and conditions of an agreement for a redevelopment project to be construct by Kaplan in accordance with the Redevelopment Plan; and WHEREAS, thc Borough and Kaplan have reached a tentative agreement relating to smd redevelopment project and, with the Borough Council having reviewed the terms of the same, desire to formalize their agreement ("Redevelopment Agreement"), as authorized by the Redevelopment Law. NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Council of the Borough of Carteret, County of Middlesex, and State of New Jersey, as follows: 1. That the Redevelopment Agreement between thc Borough and Kaplan, in a form substantial similar to that authorized by the Borough Council, is hereby approved. 2. That the Mayor is hereby authorized to execute said Redevelopment Agreement on behalf of the Borough, all in a form acceptable to the Borough Attorney. 3. That the appropriate Borough Officials are hereby authorized and directed to take the necessary action to implement the terms of said Redevelopment Agreement. Adopted this 10th day of February, 2004 and certified as a truc copy of the original on.February 11, 2004. · BARNEY, ~ Municipal Clerk RECORD OF COUNCIL VOTE COUNCILMAN YES NO NV A.B. COUNCILMAN YES NO NV A.B. KRUM X RIOS X NAPLES X S ITARZ X par 1 S I X SOSNOI~SKI X X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto c, r~ Adopted at a meeting of the Municipal Council February '10 ~ 2004