89-18 Attachment.pdf

DGP Urban Renewal, LLC October 5, 2017 Ms. Karen J. Carnevale, RMC Municipal Clerk . Township of West Orange 66 Main Street West Orange, NJ 07052 West Orange, NJ 07601 Re: DGP Urban Renewal Associates, (“Obligor”) Site Work Letter of Credit Edison Lofts Dear Ms. Carnevale: In accordance with the MLUL (Municipal Land Use Law) 40:55D-53, Obligor hereby requests that the Township Engineer inspect the work related to the site improvements associated with 177 Main Street, West Orange, NJ (aka, Edison Lofts) and appended to the performance guarantee pursuant to subsection a. of 40:55D-53, a list of all uncompleted or unsatisfactory completed improvements. Further in accordance with the requirements of the MLUL, we are requesting that the Municipal Engineer inspect all improvements covered by obligor's request and file a detailed list and report, in writing, with the governing body, and simultaneously sending a copy thereof to the obligor not later than 45 days after receipt of the obligor's request. The report prepared by the municipal engineer shall identify each improvement determined to be complete and satisfactory together with a recommendation as to the amount of reduction to be made in the performance guarantee relating to the completed and satisfactory improvement, in accordance with the itemized cost estimate prepared by the municipal engineer and appended to the performance guarantee pursuant to subsection a. of 40:55D-53. Obligor has provided hereto an itemized list of improvements that it believes to be completed in accordance with the itemized cost prepared by the municipal engineer and appended to the performance guarantee. Obligor requests that at this time the performance guarantee be reduced in the amount of $871,218 Sincerely, ee Stephen Torell aed Eugene R Diaz Edwin H Cohen Len LePore - West Orange Township Municipal Engineer 4b Real Estate Investing...Outside The Box C/O Prism Capital Partners, LLC ¢ 200 Broadacres Drive, Suite 180 © Bloomfield, NJ 07003 © T: 201-567-2711 © F: 973-562-9586 ©