47-20 Resolution Authorizing Library to Seek Grant.pdf

47-20 March 3, 2020 RESOLUTION WHEREAS, on December 18, 2019, the Township Council of the Township of West Orange adopted various resolutions which approved agreements with the owner of 10 Rooney Circle in the Township to dedicate and convey the property to the Township of West Orange; and WHEREAS, on December 18, 2019, the Township Council of the Township of West Orange adopted a Resolution approving a Memorandum of Agreement (“MOA”) with the Township Library Board of Trustees; and WHEREAS, the Library MOA specifically provides that the Township will dedicate the entire main level and approximately 8,000 square feet on the lower level for use by the Library for not less than twenty (20) years; and WHEREAS, on November 7, 2017, New Jersey voters approved the New Jersey Library Construction Bond Act (the “Bond Act”) which authorizes the issuance of $125 million in State General Obligation Bonds (“Bonds”) to provide grants (“Grants”) for the construction, reconstruction, development, extension, improvement and furnishing of public libraries in the State of New Jersey; and WHEREAS, on or about November 4, 2019, regulations implementing the Bond Act published at N.J.A.C. 15:24-1 et seq. were effective; and WHEREAS, the sources and uses of funds for the new West Orange Library anticipate the Township expending not less than $2.5 million for the new Library at 10 Rooney Circle (“New Library Site”) which includes $1 million to be paid by the developer of 46 Mt. Pleasant Avenue; proceeds from the Downtown Redevelopment Project; and other funds; and