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Commissioners approve $77,290.16 release from Funtastic financial security, retain funds for sidewalks
Summary
Staff recommended and the board approved reducing the Funtastic development security by $77,290.16, leaving $97,541.64 to cover remaining improvements; staff said roughly $68,000 of the retained balance covers sidewalk and ADA ramp work.
Township staff told the board that the developer of "Funtastic" had originally posted securities totaling $174,831.80 and that "considerable improvements have been completed to date." Staff recommended reducing the posted security by $77,290.16 while retaining a remaining balance of $97,541.64 to cover additional improvements proposed after the original plan, including sidewalks and ADA ramp work.
A staff speaker explained that "we're recommending reducing the current balance by $77,290.16 to provide a remaining balance of $97,541.64," and that approximately $20,000 is being retained for miscellaneous punch‑list items and about $68,000 is reserved for sidewalk and ADA ramp improvements. A commissioner moved to release the recommended amount and the board voted in favor. The resolution authorizes staff and the township solicitor to proceed with the documentation necessary to reflect the reduced security.
