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Committee approves redevelopment amendment, mortgage discharge and multiple bond/escrow releases

Carneys Point Township Committee · August 21, 2024
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Summary

Carneys Point approved an amendment to a redevelopment agreement for Block 247, discharge of a mortgage for 229 Wintergreen Lane, and several bond and escrow releases including performance/payment bond releases for local projects.

The township committee approved an amendment to the redevelopment agreement affecting Block 247, Lots 4 and 4.02 (15 S. Pennsville Auburn Road) and moved to discharge the mortgage on 229 Wintergreen Lane after it was paid off. The Committee also authorized performance and payment bond releases, including Think Pavers Hardscaping, a release of escrow for Block 246 lots, and a bond release to Paving Plus, LLC for N. DuPont Road Phase II; each motion was passed unanimously.

Committee members said the actions clear encumbrances on completed projects and allow the township to close out construction guarantees. The redevelopment amendment and mortgage discharge are intended to reflect changes in ownership and loan status recorded in municipal files.

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