HomeMy Public PortalAboutr 97:276 No... 97-276. .,~ Dat¢ofAdoplionSEPT. 4, 1997
RESOLUTION AUTHORIZING THE RELEASE
OF REGIONAL CONTRIBUTION FUNDS
WHEREAS, the Borough of Carteret (the "Borough") has previously received
funds from the Township of Cranbury (the "TownshJp") pursuant to a regional
contribution agreement ("RCA"); and
WHEREAS, the Council on Affordable Housing had previously required that
said funds not be released until such time as the Borough has resolved a dispute
with the developer selected by the Borough to perform construction of a project to
satisfy the Borough's obligation under the RCA;
WHEREAS, said dispute has been resolved and COAH has authorized release
of the above described funds;
NOW, THEREFORE, BE IT RESOLVED as follows:
1 .) Payment of $170,000.00 is hereby authorized to Raia& Sirignano
("Raio") upon receipt of an executed agreement between Raja end the Borough.
2.) The funds to be paid pursuant to this resolution shall be deemed a
portion of the grant to Reis.
Adopted this 4th day of September, 1997
and certified aa a true copy of the original
on September 5, 1997.
KATHLEEN M. BARNEY,
Municipal Clerk
RECORD OF COUNCIL VOTE
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Adopted at a meeting of the Municipal Council ~ SEPTEMBER 4, 1997