The Local Redevelopment and Housing Law, N.J.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
By Resolution No. 15-056, duly adopted on February 26, 2015, the
Borough determined that the area consisting of Block 701, Lot 1 on
the Official Tax Map of the Borough constituted an "area in need of
redevelopment" in accordance with the Redevelopment Law (the "redevelopment
area"); and
The Carteret Planning Board (the "Planning Board"), at the direction
of the Borough, caused to be prepared a redevelopment plan for the
redevelopment area (the "redevelopment plan," a copy of which is attached
hereto as Exhibit A);[1] and
The Zoning District Map of the Borough's Land Development Ordinance[1] is hereby amended to reflect the applicability of the
redevelopment plan to the redevelopment area and the Borough's Land
Development Ordinance as it affects the redevelopment area is hereby
superseded by the redevelopment plan to the extent set forth therein.