City of Salem Common Council Regular Meeting Agenda Packet 2026-06-08
Escrow Agent Releases Funds to City After Water System Sale
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Description
Salem Oak Title acted as Escrow Agent for the City of Salem and NJ-American Water Company, disbursing $187,048 to the City after completion of post-closing sale obligations.
Contract Details
Contract Amount
$200,000 (Escrow agent – $187,048 released)
Vendor
SALEM OAK TITLE
Agency
City of Salem, NJ
Contract Type
OTHER
Document Date
June 8, 2026
Renewal Info
Escrow agent services related to single transaction; no ongoing contract, but could provide future services for additional transactions.
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