Ordinance re: raritan junction llc (A0782663). Docx



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#78766

TOWNSHIP OF RARITAN

COUNTY OF HUNTERDON, NEW JERSEY

ORDINANCE #14-05

AN ORDINANCE AUTHORIZING A TAX AGREEMENT BETWEEN THE TOWNSHIP OF RARITAN AND RARITAN JUNCTION, LLC FOR PROPERTY LOCATED AT LOT 42, BLOCK 16.02

WHEREAS, Lot 42, Block 16.02 in the Township of Raritan has been designated an Area in Need of Redevelopment under N.J.S.A. 40A:21-1 et seq.; and

WHEREAS, Raritan Junction, LLC, a New Jersey Limited Liability Company, (“Raritan Junction”) has applied to the Township Committee of the Township of Raritan for tax exemption and abatement for improvements to be made to Lot 42, Block 16.02 pursuant to the New Jersey Five Year Tax Exemption and Abatement Law, N.J.S.A. 40A:21-1 et seq.; and

WHEREAS, the Township has adopted Ordinance #14-04 which authorizes a tax exemption or tax abatement for construction of new commercial and industrial structures subject to the owner and the Township entering into a tax agreement pursuant to N.J.S.A. 40A:21-10; and

WHEREAS, the Township Committee has reviewed the application of Raritan Junction for tax exemption and abatement for new construction of commercial or industrial structures on Lot 42, Block 16.02, which application conforms to the requirements set forth in N.J.S.A. 40A:21-9; and

WHEREAS, the Township Committee has determined that it would be in the best interests of the residents of the Township to enter into a tax agreement with Raritan Junction pursuant to N.J.S.A. 40A:21-10 to provide for a tax exemption and abatement of local real property taxes relating to the new construction of commercial or industrial structures on Lot 42, Block 16.02

NOW, THEREFORE, BE IT ORDAINED by the Township Committee of the Township of Raritan, County of Somerset, and State of New Jersey as follows:

1. The Township Committee is hereby authorized to negotiate and enter into a tax agreement on Lot 42, Block 16.02 setting forth the terms by which Raritan Junction shall pay to the Township an annual amount in lieu of full property tax payments as authorized by N.J.S.A. 40A:21-10.

2. The tax agreement to be executed by Raritan Junction and the Township shall be approved by Resolution of the Township Committee in accordance with Ordinance #14-04.

Ordinance #14-05 Page 2

3. In the event that any provision of this Ordinance or the application thereof to any person or circumstance is declared invalid by a court of competent jurisdiction, such declaration of invalidity shall not affect any other provision or application of this Ordinance which may be given effect, and, to realize this intent, the provisions and applications of this Ordinance are declared to be severable.

ATTEST: TOWNSHIP COMMITTEE OF

THE TOWNSHIP OF RARITAN

_________________________ ___________________________

Rose Sollena, RMC/CMC Craig O’Brien

Township Clerk Mayor



NOTICE OF PENDING ORDINANCE
PLEASE TAKE NOTICE that the foregoing Ordinance was introduced by the Township Committee of the Township of Raritan at a meeting on April 15, 2014, and the same was then ordered to be published according to law with a public hearing and a vote scheduled for the meeting of May 6, 2014, beginning at 7:00 p.m. at the Municipal Building, One Municipal Drive, Flemington, New Jersey at which time all interested parties will be heard.

Rose Sollena, RMC/CMC



Township Clerk
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