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FINANCIAL_SERVICESAPPROVED

Woolwich Township Committee Agenda Packet 2026-06-15

Parke Bank LOC Accepted for Villages II at Weatherby

Letter of Credit #26-05 totaling $752,527.15 (Public Facilities $723,246.00; Landscape $6,000.00; Safety & Stabilization $20,731.15; Street Lighting $2,550.00) plus Engineering Inspection Escrow $16,934.00Township of WoolwichPARKE BANKJune 15, 2026

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Description

The Committee accepted a $752,527.15 Parke Bank letter of credit and a $16,934 inspection escrow from Weatherby Equities 1.7 LLC to secure infrastructure, landscaping, safety, and lighting improvements for Villages II at Weatherby Section 1.7. These financial guarantees must be in place before permits or work begin.

Contract Details

Contract Amount

Letter of Credit #26-05 totaling $752,527.15 (Public Facilities $723,246.00; Landscape $6,000.00; Safety & Stabilization $20,731.15; Street Lighting $2,550.00) plus Engineering Inspection 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 maintenance guarantees will remain until improvements are accepted and maintenance bond conditions are satisfied per Municipal Land Use Law.

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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

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Woolwich Township Committee Agenda Packet 2026-06-15

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