August 6, 2012 – Packet - Borough of Hightstown

South Academy Street within the Borough, more specifically to be located at Block 40, Lots 22, 23 and 24 on the
Borough’s Tax Map (the “property”); and
WHEREAS, the project involves the construction of four (4) affordable housing units in the form of two
(2) single-family duplexes to be constructed by HFHMBA, with the Borough sponsoring two (2) of the said units;
and
WHEREAS, the project received approvals from the Hightstown Borough Planning Board in 2011; and
WHEREAS, in exchange for the deed restrictions and controls on affordability to be established on the
affordable units at the property, the Borough has already committed to provide the sum of Two Hundred Thousand
Dollars ($200,000) to HFHMBA to assist with the construction of this project; and
WHEREAS, the specific terms and conditions associated with this venture are set forth in an Agreement
between the parties; and
WHEREAS, the Borough of Hightstown wishes to provide its authorization for the Mayor to execute and
the Borough Clerk to attest the said Agreement, which shall memorialize the understanding previously reached
between the parties (i.e., prior to the Borough’s approval of the Revised Spending Plan referenced above) regarding
the project; and
WHEREAS, the said Agreement shall be in a form satisfactory to the Borough Attorney; and
WHEREAS, the Hightstown Borough Council finds and declares that the execution of the said Agreement
is in the best interests of the residents of the Borough.
NOW, THEREFORE, BE AND IT IS HEREBY RESOLVED, by the Borough Council of the Borough
of Hightstown, in the County of Mercer and the State of New Jersey, as follows:
1. That the Mayor is hereby authorized to execute and the Borough Clerk to attest the above-referenced
Agreement, which shall memorialize the understanding previously reached between the parties (i.e., prior
to the Borough’s approval of the Revised Spending Plan referenced above) regarding the project, which
shall involve the payment of $200,000 from the Trust Fund to HFHMBA to assist with the construction of
this project.
2. That a certified copy of this Resolution shall be provided to each of the following:
a. COAH;
b. Michael Theokas, Borough Administrator;
c. Tamara Lee, Borough Planner;
d. Frederick C. Raffetto, Esq., Borough Attorney;
e. Gary Rosensweig, Esq., Planning Board Attorney; and
f. Carmela Roberts, P.E., Borough Engineer.
CERTIFICATION
I hereby certify the foregoing to be a true copy of a resolution adopted by the Borough Council at a meeting held on August 6. 2012.
__________________________________________
Debra L. Sopronyi
Borough Clerk