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Board closes Pik Rite storm-water fiscal guarantee, notifies Jersey Shore Bank
Summary
The Supervisors accepted a Zoning Officer recommendation that the storm-water guarantee for Pik Rite be completed and voted to terminate the Letter of Credit from Jersey Shore Bank; the motion passed unanimously.
Zoning Officer Douglas Hovey reported that the storm-water guarantee for the Pik Rite development had been completed and recommended termination of the Letter of Credit issued by Jersey Shore Bank. Supervisor Glenn Troup moved and Supervisor Todd Oberdorf seconded a motion to close out the fiscal guarantee and notify Jersey Shore Bank; the motion passed unanimously.
The minutes record the Board's action but do not include the original guarantee amount or the date the Letter of Credit was issued. The action instructs township staff to notify Jersey Shore Bank that the letter may be terminated.
