HomeMy Public PortalAboutr 04:150No. 04-150 Date of Adoption April 22, 2004
AUTHORIZING EXECUTION OF DEVELOPERS AGREEMENT -
PORT READING, CARTERET LLC
WHEREAS, the Mayor, on behalf of the governing body, has negotiated
an agreement w/th representatives of the Port Reading, Carteret LLC set forth the
terms and conditions pursuant to which the proposed redevelopment project shall
be undertaken; and
WHEREAS, the parties wish to enter into a formal Developer's
Agreement.
NOW, THEREFORE BE IT RESOLVED by the Mayor and Council of
the Borough of Carteret as follows:
1. That the Mayor is hereby authorized to execute the
Developer's Agreement with Port Reading, Carteret LLC on behalf
of the Borough, a copy of which is attached hereto and made a part
hereof.
Adopted this 22nd day of April, 2004 and
certified as a trace copy of the original
on April 23, 2004.
KATHLEEN M. BARNEY, RMC/CMC
Municipal Clerk
'iL RECORD OF COUNCIL VOTE
- COUNCILMAN YES NO NV A.B. COUNCILMAN YES NO NV A.B.
KRL1M X R TP,.q X
NAPLE8 X SITARZ X
PARISI X .q~qNOW.~}< T X
X - indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote lo Overrule Veto
Adopted at a meeting of the Municipal Council
~ April 22, 2004
'C~LERK ~
Jtdvms F. CLARKIN III, P.C.
COUNSELLORS AT LA'W
1100 CENTENNIAL AVENUE
SUITE 203 Email:.jclm'kin@crisp.net
James E Clarkin III PISCATAWAY, NEW JERSEY 08854
(732) 463-3900
Peter A. Vignuolo FACSIMILE: (732) 463-1500 ~((-: ~
Catel~us Development ~
Robert G. Smith, Esq.
Bob Smith and Associates
216 Stelton Road, Suite B1
Piscataway, NJ 08854
Re: Carteret Board of Adjustment
Applicant: Port Reading-Carteret, L.L.C.
Application No. ZB-04-002
Dear Mr. Smith:
Enclosed are the following with reference to the above matter:
__Acknowledgment of service __Notice of motion returnable
Affidavit
--Answer __ Notice of Settlement
__Appearance __ Order dated
Deed for recording ___Stipulation
__Interrogatories __ Summons
Answer __ Survey
Number of sets __Title Policy
Warrant to satisfy judgment __ Check covering costs:
X Other: Original and three copies of Developer's Agreement. Please arrange for
signature and return, together with your client's check in the amount of $325,000.00,
made payable to my attorney trust account. Thank you.
Ve~,~y/,])u rs,
JAMES F~ CLARKIN III
JFC/dlt
enc../
DEVELOPER'S AGREEMENT
THIS AGREEMENT, is made and entered into this~X'day of~ 2004,
between PORT READING-CARTERET, LLC, whose address is 165 South Union
Boulevard, Suite 852, Lakewood, CO 80228, hereinafter referred to as "Developer", and
THE BOROUGH OF CARTERET, a municipal corporation of the State of New Jersey, with
offices at 61 Cooke Avenue, Carteret, NJ 07008, hereinafter referred to as "Borough".
WHEREAS, the Developer is the owner of lands known as Block 267, Lots 4 and
5, and Block 1, Lot 3.01, as shown on the Tax Map of the Borough of Carteret, hereinafter
referred to as the "Subject Property"; and
WHEREAS, the Carteret Zoning Board of Adjustment has granted appropriate land
development approvals as part of Application No. ZB.04-002, as reflected in a Resolution
memorialized on February 24, 2004; and
WHEREAS, the aforesaid approvals and Resolution contain certain stipulations and
conditions, all of which are to be complied with by the Developer; and
WHEREAS, the Developer, in recognition of its civic obligations, and the impact its
development will have upon the infrastructure of the Borough, has voluntarily offered to
contribute the sum of Three Hundred Twenty Five Thousand Dollars ($325,000.00) to
the Borough of Carteret, to be used for road, infrastructure and other off-site improvements
at the sole discretion of the Borough;
NOW, THEREFORE, in consideration of the covenants, promises and consideration
herein contained and the benefits conferred, the parties, for themselves, their successor
and assigns, agree to the following terms and conditions:
1. The Developer, in addition to fully complying with all conditions constituting
part of the Zoning Board of Adjustment Resolution referred to, shall pay to
the Borough the sum of $325,000.00 by May 1,2004, for infrastructure and
other off-site improvements, said sum to be paid to the Attorney for the
Carteret Zoning Board and held in trust. Said sum shall be released to the
Borough of Carteret upon the issuance of a building permit for construction
(nota permitforgrading). Notwithstanding the foregoing, if Developer meets
all other requirements for issuance of said building permit prior to May 1,
2004, then Developer shall pay said sum by bank check or wire transfer
simultaneous with the issuance of the permit.
2. The Developer recognizes that it is not entitled to receive a temporary or
permanent Certificate of Occupancy from the Borough pertaining to the
Subject Property until the Developer pays the monies set forth above; meets
all other building code requirements for the issuance of a Certificate of
Occupancy; and obtains all other necessary governmental approvals.
3. Nothing herein shall be deemed to abrogate any condition imposed by the
part of the Resolution set forth above.
4. The terms and conditions of this Agreement shall be binding upon the parties
hereto and their successors and assigns.
5. This Agreement shall be governed and construed in accordance with the
laws of the State of New Jersey, without regard to the conflicts of laws or
choice of laws provisions thereof.
6. The invalidity or unenforceability of any particular provisions shall not affect
the other provisions hereof, and this Agreement shall be construed as if such
invalid or unenforceable provisions were omitted.
IN WITNESS WHEREOF, the parties have caused the Agreement to be signed by
their respective officers, attested by the Clerk and Secretary, respectively, on the day and
year first above written.
KATHLEEN BAIb, r~EY, M~qicfpa (~IEL REIMAN, Mayo
Clerk of the Borough of Carteret of the Borough of Carteret
WITNESS/ATTEST:
PORT READ,,ING-C.A~,TERET, LLC