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Woolwich Township Committee AgendaPacket 2026-05-18

Bond reduction granted for King’s Meadow South Phase III

Township of WoolwichWOOLWICH RESIDENTIAL LLCMay 18, 2026

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Description

Woolwich Township approved the first reduction in performance bond amounts for the King’s Meadow South Phase III residential project constructed by Woolwich Residential LLC, reflecting infrastructure work completed to date. Landscape buffering performance coverage remains at its original level.

Contract Details

Vendor

WOOLWICH RESIDENTIAL LLC

Agency

Township of Woolwich, NJ

Contract Type

OTHER

Document Date

May 18, 2026

Renewal Info

Initial performance bond reduction; conditioned on payment of outstanding engineering vouchers and subject to later reductions or releases as warranted.

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Township of Woolwich (New Jersey)Performance surety bond reductions: Public Facilities from $1,533,600.00 to $903,096.00; Safety & Stabilization from $32,836.00 to $28,624.84; Landscape Buffering no reductionMay 18, 2026

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Township of Woolwich (New Jersey)Performance surety bond reductions: Public Facilities from $276,225.60 to $83,661.60; Safety & Stabilization from $9,405.64 to $5,991.19; Landscape Buffering no reductionMay 18, 2026

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Township of Woolwich (New Jersey)Performance surety bond reductions: Public Facilities from $381,301.80 to $251,125.80; Safety & Stabilization from $12,032.55 to $11,520.75; Landscape Buffering no reductionMay 18, 2026

Issuing Agency

Township of Woolwich

City

Woolwich Township, NJ

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Vendor

WOOLWICH RESIDENTIAL LLC

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Performance bonds backing original amounts: Public Facilities $866,597.40; Safety & Stabilization $24,164.94; Landscape Buffering $131,304.00 (reduced to remaining amounts as specified)May 18, 2026

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