TOWNSHIP OF JACKSON RESOLUTION 123-2025

AUTHORIZING JACKSON TRAILS, LLC TO PROVIDE ALL PERFORMANCE GUARANTEES REQUIRED BY THE TOWNSHIP CODE THROUGH THE POSTING OF A BOND OR LETTER OF CREDIT AND WAIVING THE REQUIREMENT THAT 10 PERCENT OF THE PERFORMANCE GUARANTEES BE PROVIDED IN CASH

WHEREAS, Jackson Trails, LLC is undertaking a development project within the Township of Jackson and is required to provide performance guarantees in accordance with the Township Code; and

WHEREAS, pursuant to Section 244-34 of the Township Code, a minimum of ten percent (10%) of the required performance guarantees must be posted in cash; and

WHEREAS, due to the scope and scale of the development to be constructed by Jackson Trails, LLC, the Township Council has determined that it is in the best interest of the Township to waive the cash portion requirement and permit Jackson Trails, LLC to satisfy all performance guarantee requirements through the posting of a bond or letter of credit; and

WHEREAS, the waiver of the cash portion is the sole modification to the performance guarantee requirements, and all other performance and maintenance guarantee amounts shall be determined and approved by the Township Engineer in accordance with applicable law and Township regulations;

NOW, THEREFORE, BE IT RESOLVED by the Township Council of the Township of Jackson, County of Ocean, State of New Jersey, as follows:

  1. Jackson Trails, LLC is hereby authorized to satisfy all required performance guarantees through the posting of a bond or letter of credit in accordance with the Township Code.
  2. The requirement under Section 244-34 of the Township Code that ten percent (10%) of the performance guarantees be provided in cash is hereby waived for this development project.
  3. The Township Engineer shall establish and approve all required performance and maintenance guarantee amounts in accordance with applicable law.
  4. This resolution shall take effect immediately.

CERTIFICATION

I, SANDRA MARTIN, RMC, CMR, Municipal Clerk of the Township of Jackson, do herby certify that the foregoing resolution was duly adopted by the Council of the Township of Jackson at a meeting held on this 11th day of March, 2025.

SANDRA MARTIN, RMC, CMR

Municipal Clerk, Township of Jackson

Township Council Motion Seconded Ayes Nays Abstain Absent

Councilman Borrelli X X

Councilman Palmeri X

Councilman Sargent X

Council Vice President Burnstein X

Council President Kuhn X X