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No. 07-212 Dale llf Adllplinn AltgzlQt- Q~OO7
RESOLUTION IN SUPPORT OF RCA PROJECT AGREElVillNT
'VHEREAS, Raia& Sirignano (hereinafter referred to as the "Sponsor") proposes to
construct a fifty-five and older ten (10) one bedroom unit housing project (hereinafter
referred to as the "project") pursuant to the provisions of the New Jersey Housing and
Mortgage Finance Agency Law of 1983, as amended iliJ.S.A. 55:14K-l tl Ji.ffi.), the
rules promulgated thereunder at NJ.A.C. 5:80-1.1 tl Ji.ffi., and all applicable guidelines
promulgated thereunder (the foregoing hereinafter collectively referred to as the "HMF A
Requirements") within the Borough of CafteIct (hereinafter referred to. as the
"Municipality") on a site described as Lot 24.01, Block 144 as shown on the Official
Assessment Map of the Borough ofCarteret, Middlesex County and commonly known as
28-30 Fitch Street, Carteret, New Jersey; and
'VHEREAS, the Project will be subject to the HMF A Requirements and the mortgage
and other loan documents executed between the Sponsor and the New Jersey Housing
and MOligage Finance Agency (hereinafter referred to as the "AgencyU); and
'VHEREAS, the Project will be subject to requirements of the New Jersey Department of
Community Affairs (hereinafter referred to as the "Department of Community Affairs"),
Neighborhood Preservation Balanced Housing Prograll~ in accordance with N.J,S.A.
52:27D-320 and applicable rules promulgated thereunder at N.J.A.C. 5:43-1.1 ~ gg., and
the mortgage and' other loan documents executed between the Sponsor and the
Commissioner of the Department of ComIllunity Affairs; and
'VHEREAS, pursuant to the HMF A Requirements, the goveming body of the
Municipality hereby detennines that there is a need for this housing project in the
NIunicipality.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and COllncil of the Borough
of Carteret (the "Coullcil") that:
1. The Mayor and Council find and determine that the ten (10) unit, 55 and
older, 28-30 Fitch Strcet Project proposed by the Sponsor meets or will
meet an existing housing need.
2. The Mayor and Council find and detemline that the 28-30 Fitch Street
Project proposed by the Sponsor meets or will meet all or part of the
municipality's low and moderate income housing obligation.
3. The Mayor and Council do hereby adopt the within Resolution and makes
the detennination and findings herein contained by virtue of, pursuant to,
aI.~d. in confonnity with the provisions of the HMF A Law to enable the
Agency to process the Sponsor's application for Agency funding to
finance the Project.
Adopted this 9th day of August, 2007
and certified as a tme copy of the
. original on August 10, 2007.
LINDA A. RIVERA,
COUNCILMAN YES NO NV A.D. COUNCILMAN YES NO NV A.n.
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BELLINO X v +---
DIAZ. y nT~_ v -
KRTlM _. y
X-Indicate Vote AS. Absent NV-Not Vnting XOR . Indlc!ll~s VIl!e tll O\'~rndc V~hl
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Adopted at a meeting of tho Municipal Council -August...9,-2007
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RECORD OF COUNCIL VOTE