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No.
II
05-268
Date of Adoption August 25. 2005
DESIGNATING CARTERET TOMORROW, A PARTNERSHIP, THE
REDEVELOPER FOR THE ROOSEVEL T AVENUE LIGHT
INDUSTRIAL DISTRICT
WHEREAS, by Ordinance No. 05-09, passed on February 17, 2005, the Borough
of Carteret adopted the Redevelopment Plan for the redevelopment of the
Roosevelt Avenue Light Industrial Redevelopment District ("RALIRD"); and
WHEREAS, on March 14, 2005, the Borough issued a Request for Proposals,
soliciting proposals for the redevelopment ofRALIRD and
WHEREAS, Carteret Tomorrow, A Partnership ("Carteret Tomorrow") was one
of two redevelopers who submitted a proposal for the redevelopment of the
RALIRD; and
WHEREAS, after a review of the redevelopment proposals, the Mayor and
Council have determined that the proposal from Carteret Tomorrow is consistent
with the Request for Proposals and the Borough's redevelopment plan and,
further, meets the goals and objectives that the Borough has established for the
RALIRD;and
WHEREAS, the Borough wishes to engage in preliminary negotiations with
Carteret Tomorrow in furtherance of entering into a formal redevelopment
agreement, with said preliminary negotiations to include the receipt and review of
additional project specific information from Carteret Tomorrow as may be
requested.
NOW THEREFORE, BE IT RESOLVED by the Mayor and Council of the
Borough ofCarteret, County of Middlesex, State of New Jersey as follows:
1. That Carteret Tomorrow, A Partnership, with offices at 313
Amboy Avenue, Woodbridge, New Jersey, is hereby conditionally
designated as the redeveloper for the RALIRD and has, at the sole
and exclusive discretion of the Borough, the option to enter into
preliminary negotiations for a redevelopment agreement with the
Borough for the designated properties located within the RALIRD.
2. That the within designation is hereby made for a limited period of
ninety (90) days, and is further contingent upon Carteret
Tomorrow, providing any additional project related information as
may be requested by the Borough.
NO,
G5-268
PAGE 2
3.
That said conditional designation is additionally contingent upon
Carteret Tomorrow agreeing to reimburse the Borough for any and
all costs associated with the Borough's review of said additional
material and any subsequent efforts involved in negotiating a
formal redevelopment agreement between the Borough and
Carteret Tomorrow. Said costs shall include, but not limited to, the
cost of any and all professional consultants retained by the
Borough to review said materials and/or assist the Borough in
negotiations of a formal redevelopment agreement.
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4. That said designation may be extended at the sole and exclusive
discretion ofthe Borough.
Adopted this 25th day of August, 2005
And certified as a true copy of the
Original on August 26, 2005.
KATHLEEN M. BARNEY
Municipal Clerk
LINDA A. RIVERA
Assistant Municipal Clerk
RECORD OF COUNCIL VOTE
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AdoptC'd at a mœting of the Municipal Council
August 25. 2005
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II