HomeMy Public PortalAbout1990_04_24_R081OLvcslJurg
in ~Virginia
RESOLUTION NO. 90-81
A RESOLUTION:
PRESENTED Apri] 24; 1990
ADOPTED April 24, 1990
AUTHORIZING A TIME EXTENSION OF THE PERFORMANCE GUARANTEE
AND THE INSTAI,I,ATION OF PUBI~C IMPROVEMENTS FOR POTOMAC
CROSSING SECTION IF
WHEREAS, the Grimm Company, the developers of Potomac Crossing Section 1F have not
completed all the required public improvements in accordance with the approved construction drawings
and town standards within the two year period agreed to in the contract for public improvements; and
WHEREAS, all the housing units in the subdivision have not been sold by the builder; and
WHEREAS, the letter of credit from United Savings Bank, which guarantees the installation of
public improvements, in the amount of $84,200.00 will expire on May 12, 1990; and
WHEREAS, the Grimm Company has requested a one-year time extension and provided a new
letter of credit from United Savings Bank in the amount of $84,200.00 to guarantee installation of the
remaining public improvements for Potomac Crossing Section 1F; and
· WHEREAS, the Director of Engineering and Public Works has approved the amount of $84,200.00
to guarantee installation of the remaining public improvements:
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
The letter of credit from United Savings Bank in the amount of $84,200.00 in a form approved
by the Town Attorney and an extension of 4 months for the installation of public improvements in
Potomac Crossing Section 1F are hereby approved.
PASSED this
ATTEST:
day of April 1990.
Robert E. Sevila, Mayor
Town of Leesburg