HomeMy Public PortalAbout1990_08_08_R198PRESENTED August 8, 1990
RESOLUTION NO. 90-198
ADOPTED August 8, 1990
A RESOLUTION:
AUTHORIZING A TIME EXTENSION FOR THE INSTAIJ,&TION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
POTOMAC CROSSING SECTION lB2
WHEREAS, Richmond American, the developers of Potomac Crossing Section 1B2 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 plus
approved time extensions; and
WHEREAS, all the housing units in the subdivision have not been sold by the builder; and
WHEREAS, the corporate surety bend from Reliance Insurance Company, which guarantees the
installation of public improvements, in the amount of $79,000.00 expires on August 8, 1990; and
WHEREAS, Richmond American has requested a four-month time extension and provided a new
corporate surety bond from Reliance Insurance Company in the amount of $79,000.00 to guarantee
insts{{-tion of the remaining public improvements for Potomac Crossing Section 1B2; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of $79,000.00
to guarantee install-tion of the rem,irfing public improvements:
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
The corporate surety bend from Reliance Insurance Company in the amount of $79,000.00 in a
form approved by the Town Attorney and a time extension of four months for the install-tion of public
improvements in Potomac Crossing Section 1B2 are hereby approved.
PASSED this 8th day of
ATTEST:
Robert E. Sevi]a, Mayor
Town of Leesburg