Asbury Park
NJ

Resolution
2017-97

A Resolution of the City of Asbury Park Releasing the Performance Bond for 613 Bangs Ave. (Block 2505, Lot 2.01 And Accepting Maintenance Guarantee

Information

Department:City ClerkSponsors:
Category:Performance and Maintenance Guarantees

Attachments

  1. Printout

Body

WHEREAS, InSite Engineering, LLC has inspected 613 Bangs Avenue (Block 2505, Lot 2.01); and

 

WHEREAS, InSite Engineering, LLC has determined that the condition of the improvements is satisfactory; and

 

WHEREAS, it is the recommendation of the InSite Engineering, LLC that the City of Asbury Park release the Performance Guarantee in the amount of $9,312.00and upon a posting of the two (2) year Maintenance Guarantee in the amount of $1,164.00, provided that the release of the Performance Bond is contingent upon the payment of all outstanding escrow invoices.

 

WHEREAS, it is the intention of the City Council and in the best interest of the City of Asbury Park to release the Performance Guarantee and accept a two year Maintenance Guarantee in the amount referenced herein, contingent upon the payment of all outstanding escrow invoices, in accordance with the InSite Engineering, LLC’s recommendations. 

 

NOW THEREFORE, BE IT RESOLVED, by the City Council of the city of Asbury Park that the performance guarantee in the amount of $9,312.00 be released for the improvements described above and accept a two (2) year maintenance guarantee of $1,164.00 as well.

 

BE IT FURTHER RESOLVED that copies of this resolution shall be provided to the Finance Director, InSite Engineering, LLC, Planning Board Secretary and applicant for their information and attention.

 

Meeting History

Mar 8, 2017 7:00 PM  Municipal Council Regular Meeting
RESULT:ADOPTED [UNANIMOUS]
MOVER:Amy Quinn, Deputy Mayor
SECONDER:Jesse Kendle, Councilmember
AYES:Eileen Chapman, Yvonne Clayton, Jesse Kendle, Amy Quinn, John Moor