After a brief public hearing council voted to adopt an ordinance guarantying the bonds of the West Windsor Parking Authority for construction of the New South Parking Lot (WW-P News, February 3). Mayor Hsueh says that the details of the lease explained by Hary at the January 30 council meeting were not fully finalized as the $50,000 per year was a minimum, and the township and parking authority must still decide on details of dividing profits.
In other moves, Council approved reductions of performance guarantees for West Windsor Gardens pertaining to three projects. The reductions will cut the performance guarantees to 30 percent of the original of each. The projects included improvements to West Windsor Gardens-Clarksville Road, the West Windsor Gardens-Meadow Road jughandle and section I site improvements.
A few high-profile township projects will see full releases of performance guarantees:
– Toll Brothers will receive its guarantees for sewer and water connections along Meadow and Bear Brook roads for the Estates at Princeton Junction. According to Hary the amounts, both in paper bonds, were for $48,000 along Meadow Road and $20,000 along Bear Brook Road.
“This money was held until the very end in case the new development had any impact on any septic system or wells in the area. We’ve had no claims and the development has been there for years,” Hary said.
– Teachers Insurance and Annuities Association of America (TIAA-CREF) will receive the guarantee for P.F. Chang’s at MarketFair, a release of $79,000.
– Mack-Cali Realty Corp. will get its $783,000 performance guarantee back for Princeton Executive Park, also known as Palladium Phase A. The project was first approved back in 2000, but Hary explained the reasoning of Mack-Cali Realty as it holds the parcel of land adjacent to Lowe’s and Trader Joe’s off of Route 1.
“Right now there is no incentive to build on their part due to the economy,” Hary said.
– A recommendation for West Windsor to formalize 2012 municipal alliance grant shared services agreement with Mercer County for a total of $2,870 was approved by Council. Hary said he received a letter from the school system confirming the amount the township owes.
– Council adopted resolutions granting the release of bonds posted by Nature’s Apprentice for street opening at 5 Danville Drive and by Kislan Mechanical for street opening at 7 Landing Lane. Both were $500 amounts.
– A refund of $4,358 for inspection escrow balance to Hilton Realty for the PAK SC project was also approved. The project was for Princeton Arms’ sewer extension.
– A refund of $4,270 for six development plan review projects was also approved.
– With an eye on the development in Plainsboro (see page 27) West Windsor Township has renewed the West Windsor Little League’s agreement to operate the indoor batting facility at Community Park.
