Barnegat Reduces Sewer Improvement Guarantee for Forestar
Township of BarnegatCity · Barnegat, NJ- Disclosed value
- Performance Guarantee reduced from $295,960.00 to $88,788.00; Surety Bond or Letter of Credit reduced from $266,364.00 to $79,909.20; Cash Guarantee reduced from $29,596.00 to $8,787.80
- From resolution
- Document date
- Feb 7, 2023
The 30-second brief
The Township of Barnegat adopted Resolution 2023-103 to amend a prior resolution and correctly apply the reduction of performance, surety, and cash guarantees for Sea Crest Pines Section 4 sewer improvements to Forestar Group. The action reduces the developer’s required performance security amounts in line with the consulting engineer’s recommendations.
Forestar Group holds this construction 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
- Contract type
- Construction
- Amount
- Performance Guarantee reduced from $295,960.00 to $88,788.00; Surety Bond or Letter of Credit reduced from $266,364.00 to $79,909.20; Cash Guarantee reduced from $29,596.00 to $8,787.80
- Document date
- February 7, 2023
- Vendor
- Forestar Group
- Agency
- Township of Barnegat
- Source document
- township_of_barnegat_resolution_2023_103_sewer_imp.pdf (Resolution)
Forestar Group's other public contracts
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Questions about this contract
Who was awarded the construction contract by Township of Barnegat?
Forestar Group was awarded this construction contract by Township of Barnegat, as recorded on February 7, 2023. The contract value is Performance Guarantee reduced from $295,960.00 to $88,788.00; Surety Bond or Letter of Credit reduced from $266,364.00 to $79,909.20; Cash Guarantee reduced from $29,596.00 to $8,787.80.
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 $295,960.00 to $88,788.00; Surety Bond or Letter of Credit reduced from $266,364.00 to $79,909.20; Cash Guarantee reduced from $29,596.00 to $8,787.80, covering construction work.
What type of contract is this?
This is a Construction 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_103_sewer_imp.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.