84-18 Authorizing Appraisal for 8-10 Central Avenue.pdf

1 84-18 February 27, 2018 RESOLUTION WHEREAS, on October 26, 2016, the Township adopted Resolution No. 228-16 which designated as a “condemnation area in need of redevelopment” a series of parcels of property referred to as the Central Valley Redevelopment Area (hereinafter referred to collectively as the “Redevelopment Area”); and WHEREAS, the Redevelopment Area designated by the Township includes the property located at Block 9, Lot 32, commonly known as 8-10 Central Avenue (the “Property”); and WHEREAS, the Property is included in the Central Valley Brownfield Development Area (the “CVBDA”); and WHEREAS, the Property is also the subject of monitoring by the New Jersey Department of Environmental Protection (the “DEP”) and the United States Environmental Protection Agency (the “EPA”) for environmental contamination as to the ground water located therein; and WHEREAS, the Township seeks to explore the possibility of acquiring the Property through condemnation; and WHEREAS, on January 23, 2018, the Township adopted Resolution No. 39-18 authorizing the execution of a professional services agreement with Hendricks Appraisal Company, LLC (“Hendricks”) to perform appraisal services for the Township; and WHEREAS, Hendricks has agreed to perform the appraisal of the Property at a flat rate of $5,000; and WHEREAS, the appraisal will require the consideration of the cost estimates to remediate the Property; and WHEREAS, Matrix New World (“Matrix”) has agreed to perform a cost estimate analysis for the remediation of the Property to provide to Hendricks in order to perform the appraisal of the property; and