2977-26 - 80 Main Street Redevelopment Plan.pdf

76-80 MAIN STREET REDEVELOPMENT PLAN TOWNSHIP OF WEST ORANGE, COUNTY OF ESSEX Page 23 Prepared by Heyer, Gruel & Associates 10.3 APPOINTMENT OF A DESIGNATED REDEVELOPER Upon the Redevelopment Entity’s satisfactory review of the above, it shall then proceed to negotiate a formal Redevelopment Agreement. Designation of a Redeveloper by the Redevelopment Entity shall be subject to the execution of an appropriate Redevelopment Agreement. The estimates referred to in the previous section shall be finalized by the designated Redeveloper at the time of execution of such agreement. Prior to the commencement of construction of any improvements on Area land, final plans and specifications must be submitted to the Planning Board for site plan approval as required pursuant to the Municipal Land Use Law (NJSA 40:55D-1 et seq.) by the Redeveloper for approval to ensure conformance with the approved preliminary submission. 10.4 CONDITIONS IN REDEVELOPMENT AGREEMENT 1. The Redevelopment Agreement shall incorporate the pertinent aspects of the selected developer’s proposal and will address financial considerations, planning, phasing, development, and such other issues as deemed appropriate and/or as required according to state law in order to implement the Redevelopment Plan. 2. A Designated Redeveloper shall be obligated to complete on-site improvements as approved, together with any specified off-site improvements, as may be required in accordance with the Redevelopment Plan. 3. The deed of conveyance shall include a restriction that the Designated Redeveloper and his successors or assignees shall devote land to the use(s) specified in the Designated Redeveloper’s final plan and shall not devote such land to any other uses. 4. No Designated Redeveloper shall be permitted to dispose of property until all required improvements are completed, unless the prior written consent of the Township of West Orange has been obtained. 5. The consent of the Township of West Orange shall be required prior to the disposition of all or any of the Designated Redeveloper’s interest in the Area. Such consent shall be effective upon the completion by the Designated Redeveloper of all on and off-site improvements as may have been approved and required. 6. No covenant, agreement, lease, conveyance, or other instrument shall be effective or executed by the Township of West Orange or by purchasers

te improvements as may have been approved and required. 6. No covenant, agreement, lease, conveyance, or other instrument shall be effective or executed by the Township of West Orange or by purchasers or lessees from them, or by any successors in interest of such purchasers or lessees, by which land in the Area is restricted as to sale, lease, or occupancy upon the basis of race, color, creed, religion, ancestry, national origin, sex, or marital status. 7. The Township of West Orange reserves the right to terminate any Redeveloper Agreement with a Designated Redeveloper subject to the terms and conditions of the Redevelopment Agreement. 10.5 DURATION OF REDEVELOPMENT PLAN During the time that the Redevelopment Plan is in effect, any party acting as a redeveloper (as defined in the LRHL) must obtain the approval of the Redevelopment Entity (unless the Redevelopment Entity has been dissolved in which event the municipal governing body assumes the responsibility). The Redevelopment Plan will remain in effect for 30 years. After that period, the Zoning Ordinance will regulate the development of the Area. 10.6 AMENDING THE REDEVELOPMENT PLAN This Redevelopment Plan may be amended from time to time in compliance with the requirements of law, provided that with respect to any land in the project area previously disposed of by the Redevelopment Entity for use in accordance with the Redevelopment Plan, the Entity will notice the owner of such land whose interests therein may be materially affected by such amendment.