HomeMy Public PortalAboutr 06:156
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Date of doption May 4. 2006
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No.o6-156
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AUTHORIZING THE EXECUTION OF AN AMENDMENT TO THE
REDEVELOPMENT AGREEMENT BETWEEN THE BORe UGH OF
CARTERET AND TIT AN-PDC CARTERET, LLC
WHEREAS, the Borough of Carteret ("Borough") and Titan-PDC arteret, LLC,
("Titan") have previously entered into a formal redevelopment agre ment for the
redevelopment of a portion of the Landfill Reclamation Irnproveme t District, as
expanded, ("Redevelopment Agreement"); and
WHEREAS, the Borough and Titan, through its successor entity, have found it
necessary to negotiate an amendment to the Redevelopment Agr ement ("First
Amendment") primarily to address certain issues related to the P ase I project
schedule, and to adjust the deadline for the required negotiation of a Phase IT
redevelopment agreement between the parties.
NOW, THEREFORE, BE IT RESOLVED by the Borough ( ounei! of the
Borough of Carteret, County of Middlesex, State of New Jersey as fi \lows:
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That the Mayor, Borough Attorney and/or Special Re evelopment
Counsel(s) are hereby authorized to negotiate a First ~endment to
the above-referenced Redevelopment Agreement between the
Borough and Titan.
2.
That the Mayor, and appropriate Borough Officia1s, re hereby
authorized to execute a First Amendment to the aforesaid
Agreement in a fonn acceptable to the Borougl Attorney and
Special Redevelopment Counse1(s).
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Adopted this 4th day of May, 006
and certified as a true copy 0 the
original on May 5\h, 2006.
](A THLEEN M BARNEY, tMC/CMC
Municipal Clerk
a RECORD OF COUNCIL VOTE
YES NO NV A.B. COUNCILMA YES NO NV A.B.
COUNCILMAN
X NAPLES X
BELLINO
DIAZ X uTn< X
v --- y
.mnM
x _ Indicate VOle AS - Absent NV - Not Voting
XOR _ Indica s Vote to Overrule Veto
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Adopted at a meeting of thc Municipal Council
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MAY 4 2.0.06
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