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Date of Adoption . Januarv 6, 200:
No. M-1E)
AUTHORIZING THE SALE OF 68 UNION STREET AND 68 ESSEX STREET (B
251; 1 & 2) AND AUTHORIZING THE CARTERET REDEVELOPMENT
AGENCY TO ADMINISTER THE SAME
WHEREAS, as part of Borough ofCarteret's ("Borough") ongoing revitalization efforts, the Borough has
obtained title .to certain real property commonly known as 68 Union Street and 68 Essex Street as Block
252, Lots 1 & 2 on the Tax Map of the Borough; and
WHEREAS, the Borough has hereby determined that said parcel of real property is not needed for public
use and is consequently desirous of providin,g for the public sale of the same in.accoroance with the
provisions of the Local Lands and Buildings Law eN,J,g.A. 40A:12-1 ~gg.); and .
WHEREAS, the Borough further desires for the Carteret Redevelopment Agency (the "Agency") to
administer the planned public sale of said real property including the advertisement and conduct of said
sale, and the award of said sale consistent with the provisions of the Local Land and Buildings Law and
this resolution.
NOW, THEREFORE, BE IT RESOLVED by the May'or and Council of the Borough Carteret as
follows:
1. That the public sale of the real property commonly known as 68 Union Street and 68 Essex
Street (Block 252, Lots 1 & 2), which has been determined not to be needed for public use, is
hereby authorized and directed, all in accordance with the provisions of the Local Lands and
Buildings Law.
2. That the minimum price for said sale shall be set at Three Hundred and Twenty Five
Thousand Dollars ($325,000.00) for the combined purchase of the aforesaid real property,
and the Borough further reserves the right to reject all bids received should the highest bid
not be accepted.
3. That the Agency is hereby authorized to administer the public sale as authorized herein, with
such conditions as shall be approved by the Mayor and Legal Counsel to the Borough.
4. The Agency is hereby authorized and directed to retain in tmst the proceeds derived
therefrom for authorized use in the advancement of the Borough's approved redevelopment
programs. .
5. That appropriate Borough Officials and its professional staff andlor consultants are hereby
authorized and directed to take all necessary and proper action(s), including, but not limited
to, the execution of any documents' and other writings and things, all in furtherance of
implementing the provisions of this authorizing Resolution and effectuating the sale of the
above4 referenced real property.
Adopted this 6th day of ,jlamary, 2008
and certified as a true copy of the
original on January 8, 2008.
KATHLEEN M. BARNEY, MMC
Municipal Clerk
RECORD OF COUNCIL VOTE
(
GOUNCILi\JAN YES NO NY A.B. COUNCIL&IAN YES NO NV A.B.
BELLINO X . NAPLES X
.
DIAZ. X RIDS y
KRUM X SITARZ X
X-Indicate Vote AB-Absent NY - Not Voting 'XOR -Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council /' ~u,~~
Xiii;l'1. P/ j
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