Barnegat Amends Forestar Group Performance Guarantee
Township of BarnegatCity · Barnegat, NJ- Disclosed value
- Performance Guarantee reduced from $242,700.00 to $72,810.00; Surety Bond/Letter of Credit reduced from $218,430.00 to $65,529.20; Cash Guarantee reduced from $24,270.00 to $7,281.00
- From resolution
- Document date
- Feb 7, 2023
The 30-second brief
The Barnegat Township Committee approved Resolution 2023-102 amending Resolution 2022-199 to correctly apply a reduction of the performance guarantee for Sea Crest Pines Section 4 water improvements to Forestar Group. The action reduces the performance, surety/letter of credit, and cash guarantee amounts to new lower levels.
Forestar Group holds this contract with Township of Barnegat. Its other public contracts on record include work for City of Ormond Beach and Orange County.
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Contract details
- Amount
- Performance Guarantee reduced from $242,700.00 to $72,810.00; Surety Bond/Letter of Credit reduced from $218,430.00 to $65,529.20; Cash Guarantee reduced from $24,270.00 to $7,281.00
- Document date
- February 7, 2023
- Vendor
- Forestar Group
- Agency
- Township of Barnegat
- Source document
- township_of_barnegat_resolution_2023_102_performan.pdf (Resolution)
Forestar Group's other public contracts
More Township of Barnegat contracts
Questions about this contract
Who was awarded the government contract by Township of Barnegat?
Forestar Group was awarded this government contract by Township of Barnegat, as recorded on February 7, 2023. The contract value is Performance Guarantee reduced from $242,700.00 to $72,810.00; Surety Bond/Letter of Credit reduced from $218,430.00 to $65,529.20; Cash Guarantee reduced from $24,270.00 to $7,281.00.
How much is the Forestar Group contract with Township of Barnegat worth?
The Forestar Group contract with Township of Barnegat is valued at Performance Guarantee reduced from $242,700.00 to $72,810.00; Surety Bond/Letter of Credit reduced from $218,430.00 to $65,529.20; Cash Guarantee reduced from $24,270.00 to $7,281.00.
What type of contract is this?
This is a government contract, documented as a resolution record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in township_of_barnegat_resolution_2023_102_performan.pdf (Resolution), dated February 7, 2023 from Township of Barnegat. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Forestar Group hold?
Forestar Group may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Township of Barnegat currently buying?
Explore Township of Barnegat's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.