ORDINANCE NO. 2026:42 - NOTICE OF INTRODUCTION

LEGAL NOTICE

TOWNSHIP OF PARSIPPANY-TROY HILLS

MUNICIPAL ORDINANCES

NOTICE OF INTRODUCTION

NOTICE IS HEREBY GIVEN, that the following Ordinance was submitted in writing at a Meeting of the Township Council of the Township of Parsippany-Troy Hills, in the County of Morris and State of New Jersey, held on October 20, 2026 introduced and passed on first reading and the governing body will further consider the same for second reading and final passage thereof at a Meeting to be held on November 24, 2026 at 7:00 p.m., prevailing time, or as soon thereafter as the matter may be reached, at the Municipal Building in said Township at which time and place a Public Hearing will be held thereon by the governing body, and all persons and citizens in interest shall have an opportunity to be heard concerning same.  A copy of this ordinance has been posted on the Bulletin Board in the Municipal Building.  During the week prior to and up to and including the date of such meeting, copies of said Ordinance will be made available at the Clerk’s Office in said Municipal Building to the members of the general public who shall request the same.

                                                                                    KHALED MADIN

                                                                                    Township Clerk

TOWNSHIP OF PARSIPPANY-TROY HILLS

MORRIS COUNTY, NJ

ORDINANCE NO. 2026:42

AN ORDINANCE OF THE TOWNSHIP COUNCIL OF THE TOWNSHIP OF PARSIPPANY-TROY HILLS, MORRIS COUNTY, NEW JERSEY ADOPTING AN AMENDMENT TO THE REDEVELOPMENT PLAN FOR BLOCK 200, LOT 1.2 & 1.03 AS SHOWN ON THE OFFICIAL TAX MAP OF THE TOWNSHIP OF PARSIPPANY AND LOCATED AT 1515 ROUTE 10, PURSUANT TO THE LOCAL REDEVELOPMENT AND HOUSING LAW N.J.S.A.40a:12A-1 ET SEQ.

WHEREAS, the Township of Parsippany Troy Hills, in the County of Morris, New Jersey (the “Township”), a public body corporate and politic of the State of New Jersey (the “State”), is authorized pursuant to the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et seq. (the “Redevelopment Law”), to determine whether certain parcels of land within the Township constitute an area in need of rehabilitation and/or an area in need of redevelopment; and

WHEREAS, on September 22, 2015, pursuant to Resolution 2015-155, the Township Council designated Block 200, Lot 1.2 on the official tax map of the Township of Parsippany Troy-Hills (“Block 200, Lot 1.2” or the “Redevelopment Area”) as a non-condemnation area in need of redevelopment as per the Redevelopment Law; and

WHEREAS, on August 22, 2017, pursuant to Ordinance No. 2017:18, the Township Council adopted the “Redevelopment Plan for Block 200, Lot 1.2” dated July 24, 2017 (the “Original Redevelopment Plan”) for the Redevelopment Area; and

WHEREAS, on September 25, 2018, the Township Council adopted Ordinance 2018-22, amending the Original Redevelopment Plan for the Redevelopment Area (the Original Redevelopment Plan, as amended, the “First Amended Redevelopment Plan”); and

WHEREAS, in order to implement the First Amended Redevelopment Plan, the Township and the Redeveloper entered into a redevelopment agreement, which was also approved by the Council on September 25, 2018, pursuant to Resolution No. 2018-157 (the “Original Redevelopment Agreement”); and

WHEREAS, the Original Redevelopment Agreement contemplated a project comprised of the demolition and/or renovation of existing structures, any environmental remediation, on the Original Redevelopment Area, construction thereon of (a) a mixed-use development to include approximately 273 residential units (252 market rate units and 21 Affordable Units (as defined in the Original Redevelopment Agreement) to be constructed on-site) and approximately 63,684 square feet of retail space together with associate off-street parking spaces and related infrastructure improvements (the “Original Phase I Project”); and (b) a mixed-use development to include approximately 168 residential units (155 market rate units and 13 Affordable Units to be constructed on-site) and approximately 36,000 square feet of retail space together with associated off-street parking spaces and related infrastructure improvements (the “Original Phase II Project”) and related on-site and off-site improvements, including utility and infrastructure improvements (collectively, the “Original Project”); and

WHEREAS, by Ordinance 2019:27, adopted by the Council on June 13, 2019 (the “Parsippany Annexation Ordinance”) and by Ordinance 28-2019, adopted by the Township of Hanover Township Committee on September 12, 2019 (the “Hanover Annexation Ordinance” and together with the Parsippany Annexation Ordinance, the “Annexation Ordinances”), a portion of property then located in the Original Redevelopment Area was annexed out of the Township and into the Township of Hanover (the “Annexed-Out Property”) and a portion of the property then located in the Township of Hanover, as more particularly described in the Annexation Ordinances, was annexed out of the Township of Hanover into the Township (the “Annexed-In Property”); and

WHEREAS, on June 25, 2019, by Resolution No. 2019-142, the Council designated the Annexed-In Property as a non-condemnation redevelopment area under the Redevelopment Law and on December 17, 2019, by Ordinance No. 2019:35, the First Amended Redevelopment Plan was further amended to, among other things, amend the Original Redevelopment Area to include the Annexed In Property and exclude the Annexed-Out Property (now designated on the tax maps of the Township as Block 200, Lot 1.2 and Block 200, Lot 1.03, the “Redevelopment Area”, and the First Amended Redevelopment Plan, as amended, the “Second Amended Redevelopment Plan”); and

WHEREAS, in November 2019, by Ordinance 2019:72, the Council approved certain changes to the Original Project, (the “First Amended Project”), and authorized an amendment to the Original Redevelopment Agreement; and

WHEREAS, due to the impact of the COVID-19 pandemic, financing for the First Amended Project has proven to be impossible, with the office and non-restaurant retail components having little to no value, and as such, the Redeveloper and Redeveloper Affiliate have proposed further modifications to the First Amended Project, now consisting of (a) a development to include approximately 263 market residential units (243 market rate units and 20 Affordable Units to be constructed on-site) together with associated off-street parking spaces and related infrastructure improvements (the “Phase I Project”); and (b) a mixed-use development to include approximately 235 residential units (164 Non-Age Restricted (as hereinafter defined) market rate units, 22 Non-Age Restricted Affordable Units to be constructed on-site, and 49 Age Restricted (as hereinafter defined) market rate units) and approximately 60,000 net square feet of retail space, together with associated off-street parking and related infrastructure improvements (the “Phase II Project”, and together with the Phase I Project, the “Project”); and

WHEREAS, in December 2020, by Ordinance 2020:35 the Council approved certain amendments to the Second Amended Redevelopment Plan to, among other things, accommodate the modifications in the Project; and

WHEREAS, in order to implement the Redevelopment Plan, the Council further desires to approve an Amendment to the Redevelopment Plan(“Amended Redevelopment Plan”), specifically to the standards to Section 5 governing the rights and obligations of the parties relating to the Project; and

WHEREAS, the Township Council desires to refer the Amended Redevelopment Plan to the Planning Board, as more fully set forth in Exhibit A, for its review and comment, pursuant to N.J.S.A. 40A:12A-7 of the Redevelopment Law; and

WHEREAS, the Planning Board must review the Redevelopment Plan and transmit its recommendations regarding same to the Township Council in accordance with the provisions of N.J.S.A. 40A:12A-7 of the Redevelopment Law; and

WHEREAS, subject to receipt of the Planning Board’s recommendations concerning the Redevelopment Plan, the Council believes that the adoption of the Redevelopment Plan is in the best interests of the Township.

NOW, THEREFORE, BE IT ORDAINED, by the Council of the Township of Parsippany Troy-Hills, County of Morris, State of New Jersey, as follows:

1. The Council hereby refers the Redevelopment Plan, as described in Exhibit A attached hereto and made a part hereof this Ordinance, to the Planning Board for review and recommendation in accordance with N.J.S.A. 40:12A-7 of the Redevelopment Law. The Planning Board shall prepare a report regarding its recommendations as to the aforementioned amendment and submit same to the Council within 45 days after referral, as required by the Redevelopment Law.

2. Contingent upon the receipt of the Planning Board’s recommendations, the Council hereby adopts the Redevelopment Plan pursuant to the terms of N.J.S.A. 40A:12A-7 of the Redevelopment Law.

BE IT FURTHER ORDAINED, if any section, paragraph, subsection, clause, or provision of this Ordinance shall be adjudged by the courts to be invalid, such adjudication shall apply only to the section, paragraph, subsection, clause, or provision so adjudicated, and the remainder of the Ordinance shall be deemed valid and effective; and

BE IT FURTHER ORDAINED, any ordinances or parts thereof in conflict with the provisions of this Ordinance are repealed to the extent of such conflict; and

BE IT FURTHER ORDAINED, to the extent that any portion of the Redevelopment Plan conflicts with or amends or modifies any provision of any other of the Township’s development regulations, the Redevelopment Plan shall supersede or amend or modify, as applicable, such development regulations and the zoning district map included in the Township’s zoning ordinance shall be deemed amended accordingly; and

BE IT FURTHER ORDAINED, this Ordinance shall take effect upon passage and publication in accordance with applicable law.