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doc10607 R261-2025-A-PERFORMANCE-BOND-AND-SAFETY-AND-STABILIZATION-BOND-POSTED-BY-VL-NORTH-COUNTY-LINE-ROAD-LLC-PDF.pdf
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"text": "RESOLUTION OF THE TOWNSHIP OF JACKSON, COUNTY OF OCEAN, STATE OF NEW JERSEY AUTHORIZING THE RELEASE OF A PERFORMANCE BOND AND SAFETY AND STABILIZATION BOND POSTED BY VL NORTH COUNTY LINE ROAD, LLC WITH PROPERTY KNOWN AS BLOCK 4601, LOTS 9, 10 AND 11",
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"text": "WHEREAS, VL North County Line Road, LLC has previously posted Performance and Safety and Stabilization Bonds with respect to the project known as the “Boulevard Office Retail Plaza, Block 4601, Lots 9, 10 and 11” as shown on the official Tax Maps of Jackson Township; and"
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"text": "WHEREAS, said Performance Bond No. CM101160 is in the amount of $343,445.40 and the Safety and Stabilization Bond No. CM101165 is in the amount of $51,710.90; and"
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"text": "WHEREAS, subsequent to the approval of the Planning Board application in 2019 and prior hereto, the contract between the property owner and VL North has been terminated; and"
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"text": "WHEREAS, VL North has now requested a return of the Bonds previously posted; and"
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"text": "WHEREAS, the Township has confirmed that no zoning permits or construction permits have been issued with respect to this property or if so, will be rescinded; and"
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"text": "WHEREAS, it is appropriate to release the Bonds of VL North County Line Road, LLC since they are no longer pursuing this project and no permits have been obtained or construction commenced."
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"text": "NOW, THEREFORE, BE IT RESOLVED this _____ day of _____, 2025 by the Township Council of the Township of Jackson, County of Ocean, State of New Jersey as follows:"
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"text": "1. The Township is hereby authorized to release Performance Bond No. CM101160 in the amount of $343,445.40 and Safety and Stabilization Bond No. CM101165 in the amount of $51,710.90."
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"text": "BE IT FURTHER RESOLVED, that a copy of this Resolution shall be provided to the following:"
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