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Council approves first escrow release for 146 Marion Ave land-development work
Summary
Council approved the first release of escrow for the 146 Marion Avenue subdivision and land-development project after staff certified that portions of sanitary sewer, stormwater, landscaping and walkway improvements were satisfactorily completed; about $55,000 remains in security for outstanding items.
Staff summarized that the borough received a first request to release escrow for the subdivision and land-development project at 146 Marion Avenue. The release covers installed public improvements including sanitary sewer, stormwater management, portions of landscaping and walkway work that an engineer (contractor Pinoni) certified as satisfactorily completed.
Staff noted that the building itself has received a certificate of occupancy and one cottage is occupied, but site improvements and public-work elements remain on a separate completion track. "It is very common to see homes completed and constructed prior to closure and completion of the full site improvements on the land development side of things," staff said.
The borough will retain about $55,000 from the original financial security until final completion of remaining items; staff expects one or two additional requests for escrow release as the project finishes. Council voted to approve the first escrow release as presented.
