410 Main Street Settlement Resolution

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, it is understood that 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 WHEREAS, the Board has reviewed the material terms of the Settlement Agreement and finds that resolution of the 410 Main Street Actions on the terms set forth therein will avoid the expense, delay, and uncertainty of continued litigation, advance the Township’s Fourth affordable housing compliance, and serve the best interests of the Township and its residents; and WHEREAS, the Board desires to approve the Settlement Agreement and authorize the Chairman of the Board, the Board Secretary and Board counsel, and appropriate Board officials and professionals to take the actions reasonably necessary to effectuate the settlement. NOW, THEREFORE, BE IT RESOLVED by the Planning Board of the Township of West Orange, that the Affordable Housing Settlement Agreement between the Board and 410 Main Street Holdings, LLC, is hereby approved, and shall be executed by the Board Chairman, attested to by the Board Secretary in the same or substantially similar form as attached hereto as Exhibit A, together with any certificates, applications, acknowledgements, or related documents reasonably necessary to effectuate the Settlement Agreement; and