Township Reduces Ryland Developers Performance Bond

Scope & details

The full contract record, as filed.

Contract amount

Performance Bond #FP0025525 original $2,998,821.96 reduced to $1,609,434.36; Cash Performance Guarantee Check #2157 original $333,202.44 with $154,376.40 to be returned and $178,826.04 retained

Contract type

CONSTRUCTION

Renewal

Bond reduction modifies security for an existing development agreement; remaining 30% of performance guarantee continues until site work is fully completed and released under Municipal Land Use Law provisions.

Document type

Minutes

Source document

readington_township_committee_meeting_minutes_nove.pdf

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township_committee_meeting_agenda_december_2025.pdf

AMENDED

Township of Readington, New JerseyDec 15, 2025

township_of_readington_committee_meeting_agenda_no.pdf

AMENDED

Township of Readington, New JerseyNov 17, 2025

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the construction contract by Township of Readington?

Ryland Developers Llc was awarded this construction contract by Township of Readington, as recorded on November 17, 2025. The contract value is Performance Bond #FP0025525 original $2,998,821.96 reduced to $1,609,434.36; Cash Performance Guarantee Check #2157 original $333,202.44 with $154,376.40 to be returned and $178,826.04 retained.

How much is the Ryland Developers Llc contract with Township of Readington worth?

The Ryland Developers Llc contract with Township of Readington is valued at Performance Bond #FP0025525 original $2,998,821.96 reduced to $1,609,434.36; Cash Performance Guarantee Check #2157 original $333,202.44 with $154,376.40 to be returned and $178,826.04 retained, covering construction work.

What type of contract is this?

This is a Construction contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in readington_township_committee_meeting_minutes_nove.pdf (Minutes), dated November 17, 2025 from Township of Readington. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Ryland Developers Llc hold?

Ryland Developers Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Township of Readington currently buying?

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