9-21 Exhibit - Authorizing Execution of Grant Agreement for the HDSRF Grant Funds for Removal of UST at the Selecto-Flash Property a_.pdf

HAZARDOUS DISCHARGE SITE REMEDIATION PUBLIC ENTITY GRANT AGREEMENT GRANT AGREEMENT (the “Agreement”) made and entered into by and between the New Jersey Economic Development Authority, a body corporate and politic constituting an instrumentality of the State of New Jersey (the “Authority") and Township of West Orange, a New Jersey public entity (the “Grantee”). BACKGROUND STATEMENT Pursuant to the provisions of Brownfields and Contaminated Site Remediation Act, N.J.S.A. 58:10B-1, et seq., amending the Industrial Site Recovery Act, P.L. 1993, c.139, as amended from time to time (the “Act”), and pursuant to the regulations promulgated by the Authority thereunder, N.J.A.C. 19:31-8.1, et seq.( the “Regulations”), the Authority, in concert with the New Jersey Department of Environmental Protection (the “Department” or "DEP"), administers a financing program under which it makes grants from monies in the Hazardous Discharge Site Remediation Fund (the “Fund”) to public entities for real property: 1) on which they hold a tax sale certificate; 2) that they have acquired through foreclosure or other similar means; or 3) that they have acquired, or have passed a resolution or ordinance or other appropriate document to acquire, by voluntary conveyance for the purpose of redevelopment. The site control requirement does not apply to projects located in a brownfield development area or projects seeking approval for remedial action matching grants for recreation and conservation or for affordable housing. The grant monies are used to fund all or a portion of the costs of performing preliminary assessments, site investigations, remedial investigations and/or remedial actions on such real properties. Notwithstanding the above, no grant shall be awarded: unless the public entity has adopted by ordinance or resolution a comprehensive plan specifically for the development or redevelopment of contaminated or potentially contaminated real property in that municipality or can demonstrate to the Authority that a realistic opportunity exists that the subject real property will be developed or redeveloped within a three-year period from the completion of the remediation. Grants may only be awarded for real property on which there has been a discharge or suspected discharge of a hazardous

loped within a three-year period from the completion of the remediation. Grants may only be awarded for real property on which there has been a discharge or suspected discharge of a hazardous substance or hazardous waste. The Authority approved the award of a grant to Grantee in the amount of up to $41,934.00 (the “Grant”) for the Remedial Action, along with report preparation, of the Selecto Flash Inc. site (the “Project”). 1. THE GRANT 1.1. The Grant The Authority agrees, upon the terms and subject to the conditions set forth herein, to make the Grant to the Grantee for the purposes set forth herein. The Grantee agrees to accept the Grant upon the terms and subject to the conditions set forth herein and pursuant to the Act and Regulations promulgated thereunder, and to use the proceeds of the Grant to finance the cost of the Project. The Grantee will only use the Grant for the purposes outlined in Schedule A for which the Grant was made and will adhere to all terms and conditions of the Grant Agreement and to the Act and the Regulations promulgated thereunder. P45524 Township of West Orange (Selecto Flash Inc.)