HomeMy Public PortalAboutResolution 01:322No. 01-322 Dateot Adoption October 4, 2001
RESOLUTION AUTHORIZING CARTERET URBAN ENTERPRISE
ZONE BOARD TO REQUEST FUNDING FOR SHOPRITE PLAZA
WHEREAS, the Borough of Carteret (the "Borough") would like to revitalize
Roosevelt Area Business Area that borders Shop-Rite Plaza; and
WHEREAS, the Borough Council of the Borough has determined that it would
be appropriate to utilize Urban Enterprise Zone "UEZ" funds to pay for a portion
of said revitalization; and
WHEREAS, the Borough Council has proposed that the Borough and the
Owner(s) of the Shop-Rite Plaza the cost of the above described revitalization
project with the Borough paying 75%, or $114,000.00, of said cost, and the Shop-
Rite Plaza paying a 25%, or $38,000.00, share of the same.
;VHEREAS, the Owner(s) of the Shop-Rite Plaza have agreed to participate in
the revitalization project with a 25% matching share.
NOW, THEREFORE, BE IT RESOLVED by Borough of Carteret that the
Carteret UEZ Board be authorized, upon its concurrence with the aforementioned
cost sharing plan, to request from the Ne;v Jersey UEZ Commission the amount
of $152,000.00 fimds from the Carteret UEZ account for Shop-Rite Plaza.
Adopted this 4th day of October, 2001
and certified as a true copy of the
original on October 5, 2001.
KATHLEEN M. BARNEY, RMC/CMC
Municipal Clerk
RECORD OFCOUNCILVOTE
FAZEKAS RIOS ~'~ __
QUINONES SAN%ORO X __
REIMAN SOHAYDA
X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote m Ovcrrutc Veto
Adopted at a meeting of the Municipal Council
// October 4, 2001