50-26 Resolution Directing Preparation of Redevelopment Plan for 80 Main (redline 2_10_26)(95834931.4).doc.pdf

#95834931.4 RESOLUTION A Resolution Authorizing the Establishment of a Redevelopment Escrow in Connection with Preparation of a Draft a Redevelopment Plan for Block 88, Lot 1, Pursuant to N.J.S.A. 40A:12A- 1 et seq. WHEREAS, the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq., provides a mechanism to empower and assist local governments in efforts to promote programs of redevelopment; and WHEREAS, on December 14, 2021, the Township of West Orange (the "Township") declared the entirety of the Municipality as an Area in Need of Rehabilitation in 2021 (Resolution No. 323-21); and WHEREAS, the Township desires to explore whether the real property located at 80 Main Street, West Orange, New Jersey more commonly known as Block 88, Lot 17 on the Township of West Orange Tax Map, (the "Property") may be an appropriate for a Redevelopment Plan pursuant to N.J.S.A. 40A:12A-7(f); and; WHEREAS, pursuant to N.J.S.A. 40A:12A-7(f), the Township hereby desires to commence the process to prepare a Redevelopment Plan for the Property after reviewing and considering a package of materials appended hereto from the Property's Ownership concerning the Property, and setting forth potential permitted uses, rules and standards that the Board deems proper and appropriate be set forth in a Redevelopment Plan; and WHEREAS, as part of this process, the Property Owner shall pay into Escrow with the Township in the amount of $15,000.00 within ten (10) days of the adoption of this Resolution and agrees to pay for any and all reasonable costs incurred by the Township of West Orange's professionals in connection with the preparation of a Redevelopment Plan; and Deleted: Planning Board to Deleted: direct the Township of West Orange Planning Board… Deleted: Orange and Township Planning Board's