149-22 Exhibit - Parking Agreement for the Property at 14 Northfield Avenue.pdf

Exhibit “A”

PARKING AGREEMENT BY AND BETWEEN THE TOWNSHIP OF WEST ORANGE, NEW JERSEY AND WEST CRESCENT REALTY. LLC THIS PARKINC AGREEMENT is made this_day of January, 2022 (hereinafter this "Agreement"), between West Crescent Realty, LLC (hereinafter referred to as the "Owner")n a New Jersey timited liability company having its principal office at 4403-l5th Avenue #515, Brooklyn, New York ll2l9; and The Township of West Orange, a public body corporate and politic in the State of New Jersey with an address at 66 Main Street, West Orange, New Jersey 07052 (the "Township"); and together with the Owner, (the "Parties"). WHEREAS, the Township has adopted an Ordinance regulating parking in the Township, Section 7-50. I et. seq.; and WHEREAS, pursuant to Section 7-50.3(0, the Ordinance provides that the Chief of Police or designate, as authorized by the Township Council, shall have the authority to issue permits for use in rnunicipal parking yards for twenty-four (24) hour parking; and WHEREAS, pursuant to subsectron (fl(2), parking permits can be issued on an annual or serni-annual basis with automatic renewal provided payment is made in full no later than the first day of the first month for which the permit is valid and the applicants for automatic renewal are bona fide residents of the Township of West Orange; and WHEREAS, the Owner is the olvner ofproperly located at 14 Northfield Avenue, a mixed use building with commercial tenants on the first floor and vacant apartments on the second and third floors; and WHEREAS, the Owner seeks to renovate the vacant apaftment space to provide for additional units, which will require local land use approval from the Towrrship; and WI{EREAS, an application for land use approvals will trigger the need for the owuer to obtain a parking variance, because the property currently contains no confoming parking spaces; and WHEREAS, the attractiveness of these apartments to potential tenants will be considerably enhanced by the availability of reserved parking in close proximity; and WHEREAS, it is anticipated that, for the Owner to be successful in obtaining a parking variance from the Planning Board, it will be necessary to demonstrate to the Planning Board that available off:site parking u'ill be reserved for these

he Owner to be successful in obtaining a parking variance from the Planning Board, it will be necessary to demonstrate to the Planning Board that available off:site parking u'ill be reserved for these tenants for a fixed period of time; and 4872-6508-0069. u. 1

WHEREAS, the Township desires to promote the reuse of vacant upper story apartment space in downtoun buildings to avoid that space remaining vacant. NOW, THEREFORE, in consideration of the mutual coyenants contained herein and for good and valuable consideration, it is mutually covenanted and agreed as follorvs: l. The Township agrees to provide annual parking permits in Municipal Parking Lot 3 on Lindsley Avenue and Lot 4 on Valley Street and Main Street for up to twelve (12) parking spaces to Owner for parking for tenants in the building at 14 Northfield Avenue. These permits will be renewed automatically on an annual basis for a total period of five years, provided that all conditions for permits are met. 2. The Owner or its designee will make a payment in the amount consistent with the rate set forth by the Township Council of the Township of West Orange or its designee lbr all parking permits issued by the Township, a rate that is curently set at $140.00 per calendar year per space. The Owner will also provide proof to the Township that each user of a space is a bona fide resident of the building located at 14 Northfield Avenue. No refunds shall be made for any portion of time when the issued permits are not used. No transfers or assignment of permits shall be made to any non-tenants of the Properly. 3. The Owner further certifies that the use of these spaces will be consistent with any otlrer applicable requirements of Ordinance Section 7'50.3. 4. This Agreement is being entered for the purpose of demonstrating available off-site parking in connection with an anticipated application to the Planning Board or for other land use or zoning approvals by the Township. In the event that the Owner does not proceed with those applications and renovate the upper floors ofthis building for occupancy by residential tenants, the Owner will notify the Township and this Agteement shall be terminated. 5. At the commencement of each annual renewal period, the Ovr.ner will notiff the Township of the number of spaces required for the residential tenants occupying the building. The Owner will only be responsible for providing parking spaces for tenants of the residential units. 6. The Township will issue placards to the tenarils, or authorize the Owner to do so, so that tenants can place the

e for providing parking spaces for tenants of the residential units. 6. The Township will issue placards to the tenarils, or authorize the Owner to do so, so that tenants can place the placards in a visible location in their vehicles when parking in a space available to them. 7. There shall be no modification of this Agreement except by virtue of a written instrument executed by and between both parties. 8. The rights under this Agreement shall not be assigned or transferred absent written consent from the Township which it may deny at its sole discretion. 9. All notices required hereunder shall be sent by certified mail, return receipt requested or by a recognized overnight courier, with proof of delivery, or an email transmission 2 4872-650&0069, v. 1

pairing with a hard copy and transmission confirmation sent by a recognized national courier service for next business day delivery, addressed as follows: a. Sent by the Township to the Owner: West Crescent Realty, LLC c/o Richard Herbst, Managing Agent 4403-l5th Avenue #515 Brooklyn, New York 11219 With a copy to: William C. Sullivan, Jr., Esq. Scarinci Hollenbeck, LLC I100 Valley Brook Avenue P.O. Box 790 Lyndhurst, New Jersey 07071 b. Sent by the Owner to the Township: Township of West Orange 66 Main Street West Orange, Nell'Jersey 07052 Att: Chief of Police, James Abbott With a copy to Richard D. Trenk, Esq. Township Attorney Trenk Isabel, P.C. 290 West Mt. Pleasant Avenue, Suite 2350 Livingston, New Jersey 07039 And a copy to: Karen J. Carnevale Office of the Township Clerk Township of West Orange 66 Main Street West Orange, New Jersey 07052 This Agreement may be simultaneously executed in counterpafis, each of which shall be an original and all of which will constitute one and the sarne instrument. -t 4872-6508-0069, v. 1

IN WITNESS WHEREOF' the parties have caused this Agreement to be executed the day and year first above written. WEST CRESCENT REAL LLC ANewJ limited By: RICHARD HERBST Title: Owner Dated tl^lr- Swom and subscribed to me this 2lsrday of sHPRStfitA S. FRmUtr TOWNSHP OF WEST ORANGE . IISTARY PIJE.IC OF }€II" FRN: cmrtubnE'gl blag,et By ROBERT D. PARISI, Mayor Dated: APPROVED AS TO FORM AND LEGALITY RICHARD D. TRENK, ESQ Municipal Attorney Attest: KAREN J. CARI{EVALE, RMC Munrcipal Clerk 4 4872-6508-0069, v. 1