All redevelopment plans shall be implemented by the Borough
acting as redevelopment entity, unless the Borough Council selects
another redevelopment entity.
The clearance, replanning, conservation, development, rehabilitation
or redevelopment of a redevelopment or rehabilitation area may be
accomplished in one or more phases or subphases as determined by the
Borough Council or redevelopment entity.
There is hereby established a Redevelopment Review Committee
(RRC) to assist the Borough Council in implementing redevelopment
plans.
The RRC shall consist of the following Borough representatives:
B. Two Borough Council representatives.
E. Borough Redevelopment Attorney.
F. Any other individual(s) or entities designated to participate by
the Mayor because a particular expertise may be required concerning
a specific application.
Any individual or entity seeking designation as the redeveloper
of a parcel of land within a rehabilitation area or redevelopment
area for which a redevelopment plan has been adopted shall submit
the form of application located in Appendix A and entitled "Redevelopment
Application" to the Borough Clerk, along with the required application
fee. The Borough Clerk shall not forward an application to the RRC
unless the application form has been fully completed and the application
fee has been paid.
[Amended 11-2-2022 by Ord. No. 25-2022]
Reviews by the RRC and any statements or recommendations made
during the RRC meeting(s) by the Borough or its representatives shall
not have a binding legal effect on the Borough Council, Planning Board,
or any Borough representative participating in the RRC. The Borough
Council is the sole entity that can designate an applicant as a redeveloper
or authorize the execution of a redevelopment agreement or hear an
appeal by a redeveloper of any adverse recommendation made by the
RRC.
The Borough Council or redevelopment entity may select one or
more redevelopers to undertake projects in a redevelopment or rehabilitation
area. Prior to the designation of a redeveloper to undertake a project,
the Borough Council or redevelopment entity shall determine that the
redeveloper possesses rights to the property to be developed, or a
reasonable plan and timeline for obtaining rights to the property
to be developed, as well as the experience, financial capability,
and technical expertise to undertake the proposed project in the redevelopment
or rehabilitation area. The redeveloper may demonstrate its experience,
financial capability and technical expertise to the Borough Council
or redevelopment entity by providing evidence of its prior experience
in constructing projects of similar size or scope, through evidence
of its prior experience of its retained professionals and/or staff
at executing projects of similar size or scope, through the provision
of statements of net worth, annual financial reports or commitments
from lenders, or demonstrated prior experience obtaining project financing
for projects of similar size or scope, through the retention of knowledgeable,
experienced professionals, such as architects, engineers, planners,
attorneys and financial advisors that have experience with projects
of similar size or scope. The foregoing listing is provided by way
of example and not as a limitation upon the inquiry that the Borough
Council or redevelopment entity may choose to undertake to make a
determination that the redeveloper possesses the experience, financial
capability, and technical expertise to undertake and complete a project
in a redevelopment or rehabilitation area.
After the Clerk deems the redevelopment application complete
and forwards the application to the RRC for review, the applicant
must execute a funding agreement with the Borough, in a form acceptable
to the RRC, that requires the posting of funds to be held in trust
for the payment of the Borough's out-of-pocket costs and expenses
in connection with the review of the application, negotiation of the
redevelopment agreement, administration of the redevelopment agreement,
and ongoing participation of the RRC, including but not limited to
the Borough's reasonable professional engineering, planning, legal
and financial advisory services. The Mayor is authorized to execute
the funding agreement with the applicant upon approval of the form
of funding agreement by the RRC.
In the event that the Borough or redevelopment entity selects one or more redevelopers to undertake projects in the redevelopment or rehabilitation area, it shall require the redeveloper to execute a redevelopment agreement. The redevelopment agreement shall comply with the requirements of the LRHL and other applicable laws. The redevelopment agreement may authorize the continuation of the funding agreement described in §
70-48 or authorize the execution of a new funding agreement and the termination of the existing funding agreement. No redevelopment agreement shall be executed by the Borough unless execution of the redevelopment agreement has been authorized by resolution adopted by the Borough Council.
Existing owners of property in a redevelopment or rehabilitation
area are encouraged to undertake the redevelopment or rehabilitation
of their property in accordance with an adopted redevelopment plan.
The Borough Council or redevelopment entity may consider designating
existing owners of property as redevelopers of their property, provided
that the property owner demonstrates that it has the experience, financial
capability, and technical expertise to undertake and complete the
proposed project.
The Borough Council or redevelopment entity may, but is not
required to, undertake a competitive selection process for the designation
of a redeveloper or redevelopers for project(s) in an area in need
of redevelopment or area in need of rehabilitation. The determination
to undertake a competitive selection process may be made in the sole
discretion of the Borough Council or redevelopment entity from time
to time to foster or spur redevelopment.