Woolwich Township Committee Agenda Packet 2026-06-15
LOC for Weatherby Townhomes Reduced by Parke Bank
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Description
The Committee authorized a first reduction of Parke Bank Letter of Credit #25-04 covering Villages I Section 4.5 Townhomes, decreasing key guarantee amounts as improvements progress. Remaining guarantees stay in place until future review.
Contract Details
Contract Amount
Public Facilities Performance Guarantee reduced to $203,813.40; Safety & Stabilization Guarantee reduced to $9,041.79
Vendor
PARKE BANK
Agency
Township of Woolwich, NJ
Contract Type
FINANCIAL_SERVICES
Document Date
June 15, 2026
Renewal Info
Remaining guarantee balances stay active until additional reductions or final release are granted following engineering sign-off and invoice payment.
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