HomeMy Public PortalAboutr 97:315 No. 97-315 Dae of Adoption OCTOBER 2, 1997
.-- - RESOLLrfION AUTMORIZING THE REI.WASE
OF REGIONAL CONTRIBUTION FLIN~S
WHEREAS, the Borough of Carteret (the "Borough") has previously
entered into a regional contribution agreement ("RCA") with the
Township of Cranbury (the "Township") to assume a portion of the
Township's affordmhle housing obligations; and
WHEREAS, the Borough has selected the firm of Raja & Sirignano
("RAIA") to perfom the Borough's construction and rehabilitation
obligation on behalf of the Borough; and
WHEREAS, the Township has made payments sufficient to pay Raia in
accordance with the agreement between Raja and the Borough.
NOW, THEREFORE, BE IT RESOLVED as follows:
1.) Final Payment of $330,000.00 is hereby authorized to
Raja & Sirignano.
2. ) The funds to be paid pursuant to this resolution shall
be allocated as follows:
a.) $801000.00 shall be a grant;
b.) $250,000.00 shall be a portion of the loan
from the Borough to Raia.
Adopted the 2nd day of October, 1997
and certified as a true copy of the
original on October 3r 1997.
KATHLEt~q M. BARNEY,
Certified Municipal Clerk
RECORD OF COUNCIl. VOTE
· '__ COUNCILMAN YES NO NV A.B. COUN~C~I LMA N ~0-- N~-- A~-
BIAI~WARC. ZUK x PAZEKASi~ ]_~_~
FAILACE X GUTOWSK
X - Indicate Vote AB - Absent NV Not Voting XOR - Indicates Vole to Overrule Veto
TABLED
Xqd(a~!¢~ at a meeting of thc Municipal Council