Redevelopment Agency

Redevelopment Agency Meeting Minutes July 18, 2019 Page #1 Redevelopment Agency Re-Organization Meeting Thursday, July 18, 2019 7:00 p.m. City of Passaic, Mayor’s Conference Room Commissioners Present: Arthur Soto, Ruth Perez, Kimberly Perez Peter Cedeno-Castro and Chaim Munk Commissioners Absent: Angel Torres and David Spector Staff Present: Ricardo Fernandez/Executive Director, John Kaplan, Esq. /Attorney, Joe Buga/Project Manager Proper Notice: Adequate notice of the meeting was provided by notice to the Herald & News and Bergen Record, and by posting on the City Clerk’s bulletin board specifying the time, place and known agenda I. Roll Call II. Pledge of Allegiance III. Public Session Joe Conosenti, 170 Broadway, Passaic Jaroslaw Jackiw 266 Lafayette Avenue, Passaic IV. Swearing in of Commissioner Chaim Munk V. Minutes of the meeting for March 14, 2019 Moved: Ruth Perez Second: Kimberly Perez For: 3 Against: 0 Abstain: 2 Not Present: 2 Redevelopment Agency Meeting Minutes July 18, 2019 Page #2 VI. The bill list for July 18, 2019 in the amount of $8,497.38 was reviewed and approved. Moved: Ruth Perez Second: Chaim Munk For: 4 Against: 0 Abstain: 1 Not Present: 2 VII. RESOLUTIONS PASSAIC REDEVELOPMENT AGENCY RESOLUTION NUMBER 19-12 Resolution Designating Taract Management LLC as the Redeveloper for Property located at 684 Main Avenue, Passaic, New Jersey Block 1130, Lot 17 and Authorizing an Interim Costs Agreement WHEREAS, Tract Management, LLC (hereinafter referred to as the “Redeveloper”) is the owner of properties located at 684 Main Avenue in the City of Passaic, Block 1130, Lot 17 (hereinafter referred to as the “Property”), which is located within the boundaries of the City of Passaic (hereinafter referred to as the “City”) in an area that has been designated by the City as an area in need of redevelopment by City Council Resolution Number 17-11-342, which property is included in a duly adopted zoning plan known as the Redevelopment/Rehabilitation Plan First Ward, Block 1130, Lot 17 684 Main Avenue (hereinafter referred to as the “Plan”); and, WHEREAS, the Redeveloper submitted a redevelopment proposal on or about June 14, 2019 (hereinafter referred to as the “Proposal”) to the City of Passaic Redevelopment Agency Redevelopment Agency Meeting Minutes July 18, 2019 Page #3 (hereinafter referred to as the “Agency”) for the Property for uses in conformity with the Plan as amended; and, WHEREAS, the Redeveloper proposes to construct a mixed use building that will likely include, but will not be limited to, five thousand three hundred (5,300’) square feet of retail space on the first (1st) floor to be used by two (2) tenants and eight (8) two (2) bedroom residential apartments on the second (2nd) and third (3rd) floors (hereinafter referred to as the “Project”); and, WHEREAS, a committee of the Agency’s Board of Commissioners has reviewed the Proposal and found same to be generally consistent with the intent of and uses set forth in the Plan as amended; and, WHEREAS, the Redeveloper shall comply with the Plan and/or shall apply to the Planning Board for all necessary variances, approvals, and/or permits as may be required under the Plan and/or or may seek an amendment of the Plan by request to the Agency and the City. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Passaic Redevelopment Agency that: 1. The above recitations are incorporated herein as if set forth at length; and, 2. Taract Management, LLC is hereby designated as the Redeveloper for the redevelopment of the Property; and, 3. This designation is expressly contingent upon an amendment, if necessary, to the Plan and/or variances and approvals from the Planning Board; and, Redevelopment Agency Meeting Minutes July 18, 2019 Page #4 4. This designation is expressly contingent upon the Redeveloper being responsible for and assuming all costs incurred by the Agency, including, but not limited to legal, appraisal, title, environmental, financial, engineering, etc.; and, 5. This designation is also expressly contingent upon the Redeveloper providing all funds for the acquisition, relocation, property maintenance and demolition, if necessary, at the Property and construction of the proposed Project; and, 6. This designation is also based upon the Agency’s financial due diligence into the Redeveloper, including the Redeveloper providing the Agency with a non-refundable Application fee of Seven Thousand Five Hundred Dollars ($7,500.00) and the Redeveloper providing the Agency all of the necessary financial documentation necessary to perform a full financial evaluation and that the Redeveloper is financially qualified to undertake this Project to the satisfaction of the Agency and its professionals; and, 7. This designation is also expressly contingent upon payment by the Redeveloper to the Agency of an Escrow, under the terms of the Interim Costs Agreement, in the amount of Seven Thousand Five Hundred Dollars ($7,500.00), such escrow fee to be paid within thirty (30) calendar days of the execution of this Resolution; and, 8. This designation is also expressly contingent upon payment by the Redeveloper to the Agency of a one (1) time non-refundable Administrative fee of Five Thousand Dollars ($5,000.00) to be paid within thirty (30) calendar days of the execution this Resolution; and, Redevelopment Agency Meeting Minutes July 18, 2019 Page #5 9. The Interim Costs Agreement between the Agency and the Redeveloper is approved for signature by the Agency, subject to the final approval of the Agency’s General Counsel and Executive Director; and, 10. Once the Interim Costs Agreement is approved and payments are made by the Redeveloper as required hereunder, the parties will commence the negotiation of a redevelopment agreement, which is subject to review and approval by the Agency and its professionals; and, 11. The designation herein is for a period of one hundred eighty-days (180) calendar days, which period may be extended if necessary at the sole discretion of the Agency’s Executive Director for an additional period of one hundred eighty (180) calendar days. BE IT FURTHER RESOLVED that the Chairman, Vice Chairman and/or Secretary of the Agency are hereby authorized to execute any and all documents necessary to effectuate this Resolution subject to review and approval of the Agency’s General Counsel and Executive Director. INTRODUCED BY: Kimberly Perez SECONDED BY: Ruth Perez For Against Abstain Absent Chair Arthur Soto X Vice Chair Ruth Perez X Commissioner Peter Cedeno-Castro X Commissioner Chaim Munk X Commissioner Kimberly Perez X Redevelopment Agency Meeting Minutes July 18, 2019 Page #6 Commissioner David Spector X Commissioner Angel Torres X Adopted on July 18, 2019 PASSAIC REDEVELOPMENT AGENCY _Original Signature on File______ Ricardo Fernandez, Executive Director VIII. UPDATES BY EXECUTIVE DIRECTOR RICARDO FERNANDEZ Main Avenue / SDA contract Contract for SDA was returned and will be sent to you for review. This will allow the SDA to transfer to the Redevelopment for it to be put out for RFP for developers to come in front of the board to do the process. We must revisit the use for an easement for the construction phase. IDIL26 Jefferson Redevelopment agreement was completed and the abatement went through the council. Eighth Street Fire Site Spoke to owner that has site control and he advised that once he completes his other project on Dayton he will begin working on the industrial project at this site. South Street & Market Street The bulkhead is being repaired. Roof has been removed to accommodate work on the construction of a mezzanine. Same owner of this site bought the building next door and will be coming before the board for that site 125 South Street Has started doing demolition in the back to start on the other building. Redevelopment Agency Meeting Minutes July 18, 2019 Page #7 Ethan Allen Waiting for developer possibilities for that site. 220 Passaic Street They are looking to do a drive thru facility on the First Street side of the site. Dayton School Site Construction moving right along. Main Avenue Redesign Very successful meeting with County and State representatives for the concept design funds for this project. Parking Deck on Main Ave We received a $25,000 grant from the NJ Economic Development Authority for the study on the Main Avenue parking deck. State Street Parking Deck The designer was approved for the State Street Parking Deck by council. Bus Terminal We are currently waiting on DOT that sent us a lease/sale agreement for the parking island on Main Avenue and Passaic Avenue for the new bus terminal. Dundee Island Park County will start work in the site on September. River Road Project has gone to the planning board. Redevelopment Agency Meeting Minutes July 18, 2019 Page #8 XI. ADJOURNMENT Moved: Arthur Soto Seconded: Chaim Munk For: 4 Against: 0 Abstain: 0 Not Present: 3 Respectfully Submitted, Original Signature on File Asenett Martin Secretary