Agenda Item Details

MSA Thruway Project Funding Agreement- Assumption of Agreement

Number:
212/2022
Department:
Managers Office
Description:
MSA Thruway Project Funding Agreement- Assumption of Agreement

As a part of the access agreement reached between Sippel Enterprises, L.P. and Charter Homes for the newly proposed Crescent Development, Charter is assuming the obligation of Sippel Enterprises, L.P. for the MSA Thruway Project Funding Agreement initially executed between the Township and Sippel Enterprises, L.P.

Motion to authorize the execution of the Assumption Agreement between Sippel Enterprises, LP; Charter Homes at Crescent, Inc. and Cranberry Township for the assignment of the responsibilities and obligations in the MSA Thruway Project Funding agreement for Sippel Enterprise, L.P. to Charter Homes at Crescent, Inc. subject to review and approval of the Township Solicitor.
Discussed at meetings:
Meeting BOSAP - 5/2022 on 5/26/2022 by Board of Supervisors - Agenda Preparation Meeting Status: Finished
Topic: Township Manager
Minutes: No.30
MSA Thruway Project Funding Agreement- Assignment & Assumption Agreement

As a part of the access agreement reached between Sipple Enterprises, L.P. and Charter Homes for the newly proposed Crescent Development, Charter is assuming the obligation of Sipple Enterprises, L.P. for the MSA Thruway Project Funding Agreement initially executed between the Township and Sipple Enterprises, L.P.

At the June 2, 2022 Regular Meeting, the Board will be asked to consider authorizing execution of the Assignment & Assumption Agreement between Sipple Enterprises, LP; Charter Homes at Crescent, Inc. and Cranberry Township for the assignment of the responsibilities and obligations in the MSA Thruway Project Funding agreement for Sipple Enterprise, L.P. to Charter Homes at Crescent, Inc.
Meeting BOSREG - 5/2022 on 6/2/2022 by Board of Supervisors - Regular Meeting Status: Finished
Topic: Administration - Chairman Hadley
Minutes: No.16
MSA Thruway Project Funding Agreement- Assumption of Agreement

As a part of the access agreement reached between Sipple Enterprises, L.P. and Charter Homes for the newly proposed Crescent Development, Charter is assuming the obligation of Sipple Enterprises, L.P. for the MSA Thruway Project Funding Agreement initially executed between the Township and Sipple Enterprises, L.P.

Motion to authorize the execution of the Assumption Agreement between Sipple Enterprises, LP; Charter Homes at Crescent, Inc. and Cranberry Township for the assignment of the responsibilities and obligations in the MSA Thruway Project Funding agreement for Sipple Enterprise, L.P. to Charter Homes at Crescent, Inc. subject to review and approval of the Township Solicitor.
Votes: Yes 3 , No 0 , Abstain 0