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TOWNSHIP OF JACKSON RESOLUTION 261-2025

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

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

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

WHEREAS, said Bonds were posted by VL North County Line Road, LLC as the contract purchaser of the above noted project; and

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

WHEREAS, VL North has now requested a return of the Bonds previously posted; and

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that no zoning permits or construction permits have been issued with respect to this property or if so, will be rescinded; and

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.

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:

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.
2. BE IT FURTHER RESOLVED, that no zoning, construction or any other permits shall be issued unless and until a new Performance Bond has been posted by the developer of the subject property.
3. BE IT FURTHER RESOLVED, that a copy of this Resolution shall be provided to the following:
1. VL North County Line Road, LLC c/o Noah Burton, Esq.
2. Maz Properties, LLC
3. Jeff Purpuro, Zoning Officer

DASTI, McGUCKIN, McNICHOLS, CONNORS, ANTHONY & RUCKLEY

4. Richard Wilton, Construction Official
5. Beth-Ellen Gencarelli, Deputy Township Clerk
6. Gregory P. McGuckin, Township Attorney

CERTIFICATION

I, Beth-Ellen Gencarelli, do hereby certify that the foregoing is a true copy of a resolution adopted by the Governing Body of the Township of Jackson at a meeting held on the 12^{th} day of August, 2025.

Beth-Ellen Gencarelli, CMR

Deputy Clerk, Township of Jackson

DASTI, McGUCKIN, McNICHOLS, CONNORS, ANTHONY & RUCKLEY