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Resolution of the Mayor and Council of Princeton Authorizing Release of a Performance Guarantee in the Amount of $10,669.20 to RB Homes, Inc. for the Lincoln Court Major Site Plan, Block 27.01, Lots 17, 22, 23, and 70, Zones CB B and R4 B
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WHEREAS, RB Homes Inc. has made a formal request for release of the performance guarantee currently held by the Municipality of Princeton for public improvements in conjunction with the project known as Lincoln Court Major Site Plan, Block 27.01, Lots 17, 22, 23, and 70, Zones CB B and R4 B; 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 $10,669.20, plus accrued interest, if any, covering the public improvements in conjunction with the project known as Lincoln Court Major Site Plan, Block 27.01, Lots 17, 22, 23, and 70, Zones CB B and R4 B be approved and that, upon receipt of a maintenance guarantee in the amount of $1,337.40, the performance guarantee be released.
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 $10,669.20, plus accrued interest, if any, covering the public and private improvements in conjunction with the project known as Lincoln Court Major Site Plan, Block 27.01, Lots 17, 22, 23, and 70, Zones CB B and R4 B, is approved and the release of the performance guarantee and any accrued interest is authorized.