RESOLUTION OF THE TOWNSHIP COUNCIL OF THE TOWNSHIP OF JACKSON, COUNTY OF OCEAN, STATE OF NEW JERSEY AUTHORIZING THE RELEASE OF A PERFORMANCE GUARANTEE FOR FAGAN'S RUN – WELLER, BLOCK 10101, LOTS 28 AND 80
WHEREAS, the Township Planning Board has previously granted approvals for the project now known as “Fagan’s Run”, with respect to the property commonly known as Lots 28 and 80 in Block 10101 as shown on the official tax maps of Jackson Township; and
WHEREAS, in accordance with said approvals, the applicant has previously posted a performance guarantee in the amount of $41,628.51, including a 10% cash portion of $4,162.85 and a bond in the amount of $37,465.66; and
WHEREAS, by letter dated August 29, 2023, the Township’s Engineer, Stephen J. Schreiber, P.E., has recommend to the Township Council that said performance guarantee be released, conditioned upon the posting of a two-year maintenance bond in the amount of $36,486.53; and
WHEREAS, this recommendation is made following inspection of the bonded improvements and the engineer determining that same had been installed in conformance with the approved plans;
NOW, THEREFORE, BE IT RESOLVED this _____ day of _____, 2023, by the Township Council of the Township of Jackson, County of Ocean, State of New Jersey, as follows:
The Township Council hereby accepts the recommendation of its engineer and authorizes the release of the applicant's performance guarantee totaling $41,628.51, including a $4,162.85 cash portion and a bond in the amount of $37,465.66, conditioned upon the applicant posting a maintenance bond in the amount of $36,486.53.
BE IT FURTHER RESOLVED that the Township Mayor, Township Clerk and such other Township officials as may be necessary are hereby authorized to execute any and all documents necessary to implement the intent of this Resolution.
BE IT FURTHER RESOLVED that a copy of this Resolution be forwarded to the following:
Mary Moss, Township Clerk;
Sharon Pinkava, CFO;
Stephen J. Schreiber, Township Engineer;
Gregory P. McGuckin, Esq, Township Attorney;
Jeff Purpuro, Zoning Officer;
George Weller, Owner/Applicant.