238 26 Auth Agrmt TOWO and 410 Main St Holdings LLC Settlement

238-26 August 18, 2026 RESOLUTION AUTHORIZING AN AFFORDABLE HOUSING SETTLEMENT AGREEMENT BETWEEN THE TOWNSHIP OF WEST ORANGE AND 410 MAIN STREET HOLDINGS, LLC CONCERNING THE PROPERTY LOCATED AT 410 MAIN STREET, AUTHORIZING THE MAYOR AND TOWNSHIP CLERK TO EXECUTE THE AGREEMENT, AND AUTHORIZING ALL ACTIONS REASONABLY NECESSARY TO IMPLEMENT THE SETTLEMENT WHEREAS, the Township of West Orange (“Township”) is a municipal corporation of the State of New Jersey located in Essex County; and WHEREAS, the Township filed a declaratory judgment action in the Superior Court of New Jersey, Law Division, Essex County, bearing Docket No. ESX-L-886-25, seeking a court managed path to compliance with its Fourth-Round affordable housing obligations pursuant to the New Jersey Fair Housing Act, N.J.S,A. 52:27D-301 et seq., and applicable law; and WHEREAS, 410 Main Street Holdings, LLC (“410 Main”) is the owner of certain real property located at 410 Main Street, West Orange, New Jersey, also known as Block 113, Lots 262, 264, and 308 on the Township’s Tax Map (“Property”); and WHEREAS, 410 Main filed an action in lieu of prerogative writs challenging the denial of its prior land use application, bearing Docket No. ESX-L-1637-25, and thereafter filed a builder’s remedy and exclusionary zoning action against the Township and the Township Planning Board, bearing Docket No. ESX-L-1824-26 (collectively, the “410 Main Actions”); and WHEREAS, the 410 Main Actions were consolidated with the Township’s Fourth Round declaratory judgment action for purposes of mediation and discovery; and WHEREAS, the Township and 410 Main, through their respective counsel and professionals, have engaged in extensive negotiations to resolve the 410 Main Actions and provide an inclusionary affordable housing development on the Property; and WHEREAS, the Township and 410 Main have negotiated an Affordable Housing Settlement Agreement (“Settlement Agreement”), in a substantially similar form as attached hereto as Exhibit A and incorporated herein by reference; and WHEREAS, the Settlement Agreement contemplates, among other thing, development of the Property with an inclusionary rental residential project containing up to twelve (12) residential units and no commercial component at a twenty percent (20%) affordable housing set aside, resulting in two (2) on site affordable rental units and

tial project containing up to twelve (12) residential units and no commercial component at a twenty percent (20%) affordable housing set aside, resulting in two (2) on site affordable rental units and satisfaction of the remaining fractional affordable housing obligation in accordance with the Settlement Agreement in exchange for dismissal with prejudice of the 410 Main Actions upon satisfaction of the conditions set forth in the Settlement Agreement; and WHEREAS, the Settlement Agreement remains subject to approval by the Superior Court following any fairness hearing or other proceeding required by the Court; and WHEREAS, the site-specific implementing zoning ordinance contemplated by the Settlement Agreement is subject to separate introduction, public hearing, and final consideration in accordance with applicable law; and