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FINANCIAL_SERVICESAPPROVED

Woolwich Township Committee Agenda Packet 2026-06-15

Parke Bank LOC Accepted for Villages II Section 1.7

Letter of Credit #26-05 totals $752,527.15 (Public Facilities $723,246.00; Landscape $6,000.00; Safety & Stabilization $20,731.15; Street Lighting $2,550.00); separate check #1007 escrow $16,934.00Township of WoolwichPARKE BANKJune 15, 2026

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Description

The Township accepted Parke Bank Letter of Credit #26-05 totaling $752,527.15 as performance security for Villages II at Weatherby Section 1.7, along with a $16,934 inspection escrow from Weatherby Equities 1.7 LLC. These guarantees cover public facilities, landscaping, safety, and street lighting improvements.

Contract Details

Contract Amount

Letter of Credit #26-05 totals $752,527.15 (Public Facilities $723,246.00; Landscape $6,000.00; Safety & Stabilization $20,731.15; Street Lighting $2,550.00); separate check #1007 escrow $16,934.00

Vendor

PARKE BANK

Agency

Township of Woolwich, NJ

Contract Type

FINANCIAL_SERVICES

Document Date

June 15, 2026

Renewal Info

Performance and related guarantees will remain until maintenance guarantees are posted and improvements accepted per Municipal Land Use Law requirements.

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Issuing Agency

Township of Woolwich

City

Woolwich Township, NJ

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Vendor

PARKE BANK

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More from Township of Woolwich

Woolwich Township Committee Agenda Packet 2026-06-15

Public Facilities Performance Guarantee reduced to $320,250.00; Safety & Stabilization Guarantee reduced to $13,730.50June 15, 2026

Woolwich Township Committee Agenda Packet 2026-06-15

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Woolwich Township Committee Agenda Packet 2026-06-15

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Woolwich Township Committee Agenda Packet 2026-06-15

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