Woolwich Township Committee Agenda Packet 2026-06-15
Township Cuts LOC Balances for Villages I Section 2.3
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Description
Woolwich Township reduced the amounts on Parke Bank Letter of Credit #25-02 that secures Villages I Section 2.3, decreasing public facilities and safety guarantees while maintaining landscape and lighting components. The change reflects completed improvements verified by the township engineer.
Contract Details
Contract Amount
Public Facilities Performance Guarantee reduced to $320,250.00; Safety & Stabilization Guarantee reduced to $13,730.50
Vendor
PARKE BANK
Agency
Township of Woolwich, NJ
Contract Type
FINANCIAL_SERVICES
Document Date
June 15, 2026
Renewal Info
Guarantees will remain in effect at reduced levels until future reductions or final release are approved.
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