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Resolution of the Mayor and Council of Princeton Authorizing Release of a Performance Guarantee in the Amount of $1,140.00 to Honey Brook Estate LLC for 225 Mountain Avenue Minor Subdivision, Block 6704, Lot 1
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WHEREAS, Honey Brook Estate LLC has made a formal request for release of the performance guarantee currently held by the Municipality of Princeton for private and public improvements in conjunction with the project known as 225 Mountain Avenue Minor Subdivision, Block 6704, Lot 1; and
WHEREAS, the Land Use Engineer has determined that the project is complete; and
WHEREAS, the Land Use Engineer recommends that the request for release of the performance guarantee in the amount of $1,140.00, plus accrued interest, if any, covering the public and private improvements in conjunction with the project known as 225 Mountain Avenue Minor Subdivision, Block 6704, Lot 1 be approved and that the performance guarantee be released; and
WHEREAS, upon the release of this performance guarantee, the Municipality of Princeton accepts the five-foot-wide Right-Of-Way dedication along Mountain Avenue in accordance with the project known as 225 Mountain Avenue Minor Subdivision, Block 6704, Lot 1.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of Princeton that the request for release of the performance guarantee in the amount of $1,140.00, plus accrued interest, if any, covering the public and private improvements in conjunction with the project known as 225 Mountain Avenue Minor Subdivision, Block 6704, Lot 1, is approved and the release of the performance guarantee and any accrued interest is authorized.