92-26 Authorizing Execution of First Amendment to Redevelopment Agmt.-18 Central Ave_.pdf

92-26 March 3, 2026 RESOLUTION OF THE TOWNSHIP OF WEST ORANGE AUTHORIZING THE EXECUTION OF A FIRST AMENDMENT TO THE REDEVELOPMENT AGREEMENT BETWEEN THE TOWNSHIP OF WEST ORANGE AND 18 CENTRAL AVENUE URBAN RENEWAL LLC WHEREAS, the Township Council of the Township of West Orange (the “Township Council”) adopted Resolution 228-16 on October 26, 2016 pursuant to the provisions of the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq. (the “Redevelopment Law”), designating the properties identified as Block 9, Lots 11.01, 11.02, 11.03, 32, & 36 and Block 7, Lot 22 on the official tax maps of the Township, as an area in need of redevelopment (the “Redevelopment Area”); and WHEREAS, pursuant to N.J.S.A. 40A:12A-7, the Township Council, in accordance with the applicable provisions and requirements of the Redevelopment Law, passed Ordinance 2499- 16 adopting a Redevelopment Plan for the Redevelopment Area (as may be amended and supplemented from time to time, the “Redevelopment Plan”); and WHEREAS, on March 7, 2017, the Township Council adopted Resolution 74-17 which authorized the designation of The Alpert Group, LLC as the interim redeveloper of the Redevelopment Area and the execution of an Interim Redevelopment Agreement with the Redeveloper (the “Interim Agreement”) WHEREAS, the Redevelopment Area includes the properties identified as Block 9, Lot 36 and Block 7, Lot 22 on the tax maps of the Township known as 18 Central Avenue (the “Selecto-Flash Property”) currently owned by the Township following the issuance of a final judgment dated December 7, 2016 in an In Rem Tax Foreclosure, as well as Block 9, Lot 32, which was also acquired by the Township (the “Subject Properties”); and