96-24 RESOLUTION Accepting Public Improvements Colonial Woods.pdf

96-24 March 24, 2024 RESOLUTION ACCEPTING THE PUBLIC IMPROVEMENTS, INCLUDING THE RIGHTS OF WAY AT COLONIAL WOODS NORTH AND EXTENSION OF NANCE ROAD AND PUBLIC EASEMENTS SHOWN ON THE FILED MAP ENTITLED “FINAL PLAT- BLOCK 173, LOT 2AND BLOCK 172.29, LOT 40.02, COLONIAL WOODS NORTH, TOWNSHIP OF WEST ORANGE, ESSEX COUNTY, NEW JERSEY” WHEREAS, RNC Developers, Inc., (“Developer”) entered into a Developer’s Agreement with the Township of West Orange (“Township”) by Resolution No. 18-09 dated January 20, 2009; and WHEREAS, cash bonds in the amount of $178,620.00 were submitted to the Township by the Developer to guarantee completion of site improvements to be performed in accordance with the preliminary and final major subdivision approval from the Planning Board of the Township and said approval was memorialized by resolution adopted by the Board on August 7, 2003; and WHEREAS, the Township Engineer has determined that the public improvements associated with this project have been completed and found to be satisfactory; and WHEREAS, the Township Engineer, per correspondence dated December 6, 2023, has recommended a Maintenance Bond in the amount of $117,964.44, and for the time period of two (2) years from the date of approval of the improvements by the Township; and WHEREAS, the Township Engineer, per correspondence dated December 6, 2023, has recommended, and RNC has agreed to make a payment to the Township in the amount of $23,275.00 to be used for the sole purpose of planting trees; and WHEREAS, RNC asserts that the Township is currently holding Inspection Escrows established by RNC for the now completed improvements, Township Escrow Account 12-6720-00-7070 with a remaining balance of Three Thousand Five Hundred Ninety-Nine Dollars and Twenty Cents ($3,599.20) and Township Escrow Account 12-6720-00-7180 with a remaining balance of Four Thousand One