WHEREAS, the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et seq., offers municipalities the power to undertake creative and efficient means of redevelopment, and

WHEREAS, the citizens of Fanwood overwhelming answered the following non-binding referendum on November 2, 1999 in the affirmative:

WHEREAS, this year the Borough of Fanwood retained the services of a planner, Richard Priess, of the firm of Abeles, Phillips, Preiss & Shapiro, Inc. to conduct a preliminary study of Fanwood's entire downtown area, including, but not limited to 225 LaGrande Avenue, Fanwood, New Jersey, at the northeast corner of Second Street and LaGrande Avenue, and commonly known as the "Dean Oil" property, in order to propose an area that should be considered for redevelopment under the Local Redevelopment and Housing Law, N.J.S.A.40A:12A-1.et seq., and

WHEREAS, Mr. Preiss has proposed that the core commercial area of Fanwood, bounded by Martine Avenue, South Avenue, LaGrande Avenue and Second Street, as an area that should be considered for redevelopment, and

WHEREAS, no area of a municipality shall be determined a redevelopment area unless the governing body of the municipality shall, by resolution, authorize the Planning Board to undertake a preliminary investigation to determine whether a proposed area is a redevelopment area according to the criteria set forth in N.J.S.A.40A:12A-5,

NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the Borough of Fanwood that the Planning Board is hereby authorized to undertake a preliminary investigation, pursuant to the notice, hearing and other requirements of the Local Redevelopment and Housing Law, N.J.S.A.40A:12A-1,et seq., in order to recommend to the Mayor and Council whether the area of Fanwood bounded by Martine Avenue, South Avenue, LaGrande Avenue and Second Street, or any part thereof, is a redevelopment area according to the criteria set forth in N.J.S.A.40A:12A-5.