Woolwich Township Committee Agenda Packet 2026-06-15
Township Reduces Parke Bank LOC for Weatherby 4.4
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Description
Woolwich Township authorized the first reduction of Parke Bank Letter of Credit #25-07 for Villages I at Weatherby Section 4.4, cutting the public facilities and safety guarantee balances per the township engineer’s recommendation. Landscape and lighting guarantees remain unreduced.
Contract Details
Contract Amount
Public Facilities Performance Guarantee reduced to $396,096.60; Safety & Stabilization Guarantee reduced to $13,090.17
Vendor
PARKE BANK
Agency
Township of Woolwich, NJ
Contract Type
FINANCIAL_SERVICES
Document Date
June 15, 2026
Renewal Info
Guarantees continue at reduced levels until future reductions or final release upon engineering certification and payment of professional invoices.
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