title
Resolution of the Mayor and Council of Princeton Authorizing Release of a Performance Guarantee in the Amount of $29,769.00 and Reduction in Inspection Fees to Princeton SC Residential Urban Renewal, LLC for the Preliminary and Final Major Site Plan & Minor Subdivision Plan Residential Development & Walgreens Pharmacy Relocation
end
body
WHEREAS, Princeton SC Residential Urban Renewal, 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 Preliminary and Final Major Site Plan & Minor Subdivision Plan Residential Development & Walgreens Pharmacy Relocation; 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 $29,769.00 comprised of a cash portion in the amount of $2,977.00 and performance bond in the amount of $26,792.00, plus accrued interest, if any, covering the public improvements in conjunction with the project known as Preliminary and Final Major Site Plan & Minor Subdivision Plan Residential Development & Walgreens Pharmacy Relocation be approved and that, upon receipt of a maintenance guarantee in the amount of $4,465.35, the performance guarantee be released; and
WHEREAS, the Land Use Engineer further recommends that the inspection fees in the amount of $48,719.00 be less fees incurred for inspection plus accrued interest, if any, in conjunction with the project known as the project known as Preliminary and Final Major Site Plan & Minor Subdivision Plan Residential Development & Walgreens Pharmacy Relocation be reduced by $46,719.00, leaving $2,000.00 for a final inspection at the end of the maintenance period.
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 $2...
Click here for full text