Woolwich Township Committee AgendaPacket 2026-05-18
Performance bond reduced for King’s Meadow North Phase I
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Description
Woolwich Township approved the first reduction of performance bond amounts for Woolwich Residential LLC’s King’s Meadow North – Phase I project, lowering public facilities and safety & stabilization guarantees while maintaining full landscape buffering coverage. The reduction follows an April 28, 2026 engineering inspection and is contingent on payment of outstanding engineering invoices.
Contract Details
Contract Amount
Performance surety bond reductions: Public Facilities from $866,597.40 to $496,517.40; Safety & Stabilization from $24,164.94 to $18,195.54; Landscape Buffering no reduction
Vendor
WOOLWICH RESIDENTIAL LLC
Agency
Township of Woolwich, NJ
Contract Type
FACILITIES
Document Date
May 18, 2026
Contract Term
Performance guarantees remain in effect until final release; reduction effective April 28, 2026 recommendation
Renewal Info
Partial release of performance surety; remaining bond amounts stay in force until future reductions or final release are approved.
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