Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Redevelopment topic
No spam. Unsubscribe anytime.
Merchantville council approves ground lease amendment to add parcels for downtown redevelopment
Summary
Ordinance 25-13 authorizes an amendment to the Amended and Restated Ground Lease with FNB Hospitality Urban Renewal, LLC to add Block 29, Lots 3 and 11 (so the lease covers Lots 2, 3, 6, 11 and 14) to permit redevelopment and a restaurant with outdoor seating; the amendment is available for inspection at the Borough Clerk’s office.
Merchantville Borough Council on Oct. 13 adopted Ordinance 25-13 to authorize an amendment to the Amended and Restated Ground Lease with FNB Hospitality Urban Renewal, LLC, incorporating two additional parcels in the downtown redevelopment area.
The amendment adds Block 29, Lots 3 and 11 to the leased premises so the lease will include Lots 2, 3, 6, 11 and 14. The council cited the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq., as the statutory authority for redeveloper arrangements and noted the amendment supports a project originally intended to allow construction and operation of a restaurant with outdoor seating and related improvements.
According to the ordinance summary, a copy of the lease amendment is available for public inspection in the Borough Clerk’s office. Council member Ray Woods moved adoption; Council member Anthony Perno seconded and the ordinance was adopted as presented. The ordinance states that, upon final passage and publication in accordance with law, the Mayor or Administrator and Borough Clerk are authorized to execute the amendment and related documents.
The ordinance also contains a standard "as is" clause concerning the Additional Parcels and a severability clause. What happens next: the mayor and clerk are authorized to execute the amendment to effectuate redevelopment; the written amendment is available for public inspection at Borough Hall.
