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1 9 July 8, 2010
No. 10- 6 Date of Adoption, _
RESOLUTION OF THE BOROUGH OF CARTERET
CONDITIONALLY DESIGi'iATING ROYAL COFFEE AS THE
REDEVELOPER FOR CERTAIN PROPERTY LOCATED
WITHIN THE WEST CARTERET COMiYIERCIAL
REDEVELOPMENT AREA AND AUTHORlZING
AGREEMENT(S) RESULTIi'iG THEREFROM
'VHEREAS. the Local Redevelopment and Housing Law, NJ,S,A. 40A: 12A-l et
seq., as amended and supplemented (the "Redevelopment Law"), provides a process for
municipalities to participate in the redevelopment and improvement of areas in need of
redevelopment; and
\VHEREAS, in accordance with the Redevelopment Law, the Borough of
Carteret (the "Borough") previously determined, based upon the recommendation of the
Borough's Planning Board, that cert1-in designated properties collectively constituted an
area in need of redevelopment under the law, and designated the same as the West
Carteret Commercial Redevelopment Area, (collectively, the "Redevelopment Area");
and
WHEREAS, the Borough acopted a redevelopment plan for the Redevelopment
Area (the "Redevelopment PIau"), 'l,lhich shall control the redevelopment of the
Redevelopment Area; and
\VHEREAS, the Borough cesires to engage in preliminary negotiations with
Royal Coffee and RPM Warehouse (together the "Company"), in furtherance of entering
into a formal redevelopment agreement for the redevelopment of that portion of the
Redevelopment Area consisting of Bleck 49.02, Lot 2 (the "Project Area"); and
WHEREAS, the Borough c!esires to enter into that certain Pre-Development
Agreement ,vith the Company in a form approved and reconunended by the Borough's
Law Director to establish an escrow fund with the Borough to provide for the payment of
the Borough's professional fees, COSts and expenses related to the Redevelopment Area
and the negotiation and execution of a redevelopment agreement and matters related
thereto; and
NOW, THEREFORE, BE IT RESOLVED as follows:
Section 1. The Company is hereby conditionally designated as the
redeveloper for the Project Area for an initial period of ninety (90) days, or as otherwise
may be extended in accordance widt Section 2 hereof, during which time negotiation and
execution of a redevelopment agreement with the Borough shall be completed.
Section 2. The Mayor, Chief Financial Officer, or Director of Law (each an
"Authorized Officer") are hereby each severally authorized, after consultation with such
cOlUlSel and any advisors to the Borough (collectively, the "Borough Consultants"), as
such Authorized Officer deems necessary, desirable or convenient, in such Authorized
Officer's sole discretion, to extend 1he time period set forth in Section I he.z:eof, but in no
10-169
NO,
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event shall such additional period exceed ninety (90) days beyond the time period set
forth in Section 1 hereof.
Section 3. In the event that the Company has not executed a redevelopment
agreement with the Borough, all in accordance with the time periods set forth in Section 1
hereof, or as otherwise may be extended by an Authorized Officer, in such Authorized
Officer's sole discretion, in accordance with Section 2 hereof, the Borough's conditional
designation of the Company as redeveloper for the Project Area shall expire and be of no
further force and effect and the Borough shall have no further obligation to the Company.
Section 4. The above referenced Pre-Development Agreement is hereby
authorized to be executed and delivered on behalf of the Borough by the appropriate
Borough Officials, all in a form acceptable to the Borough's Law Director.
Section S. The appropriate Borough Officials andlor Authorized Officers are
hereby authorized and directed to perform such other actions deemed necessary, desirable
or convenient to effectuate and implement the purposes provided for herein.
Section 6. The appropriate Borough Officers andlor Authorized Officers are
hereby fiuther authorized to execute and implement a formal Redevelopment Agreement
with the Company, or any successor entity, should the Borough and the Company
successfully negotiate such an agreement as provide for herein, all in a form acceptable to
the Borough's Law Director, and in such case, the appropriate Borough Officials, andlor
Authorized Officers, are hereby authorized and directed to perfoffil such other actions
deemed necessary, desirable or convenient to effectuate and implement the purposes
provided for therein.
Section 7. All actions of the Authorized Officers and the Borough
Consultants taken prior to the date of adoption hereof in connection with the
Redevelopment Area, including without limitation, the Pre-Development Agreement, are
hereby ratified and approved.
SectionS.
prescribed by law.
This resolution shall take effect at the time and in the manner
Section 9. Upon the adoption hereof, the Borough Clerk shall forward
certified copies of this resolution to Matthew C. Karrenberg, Esq., DeCotiis, FitzPatrick
& Cole, LLP, Special Redevelopment Counsel to the Borough.
AdoptEd this 8th day of July, 2010
an:! certifiEd as a tlU2 coW of the
origirol on July 9th, 2010.
KIillII.E]iN M. ~, M1;
MJnicij:B1 Clerk
RECORD OF COUNCIL VOTE
COUNCILi\'1AN YES NO NV A.B. COUNCILMAN YES NO NY A.B.
BF1 T TNn x ~gUM "
DIAZ X NAPLES X
DHIASCIO X SLTARZ X
X-Indicate VOle AB.Absent NV -NoIVoting XOR - Imliealcs Vole 10 Overrule Vew
Adopted 31 a meeling of the Municipal Council ~uly 8, 2010
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