HomeMy Public PortalAbout1991_05_28_R119The Town of
Leesburg,
rg nta
RESOLUTION NO.
A RESOLUTION:
PRESENTED May 28~ 1991
91-119 ADOPTED May 28, 1991
DECLARING THE DEVELOPER OF THE ROSEMEADE SUBDIVISION IN
DEFAULT OF ITS CONTRACT FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND AUTHORIZING THE TOWN MANAGER TO PREPARE
AND SIGN THE DOCUMENTS NECESSARY TO REQUEST PAYMENT OF THE
PERFORMANCE GUARANTEE FUNDS AND ENFORCE THE CONTRACT
WHEREAS, installation of street lights is a public improvement required in subdivisions by the
Leesburg Subdivision and Land Development Regulations; and
WHEREAS, the town coordinates the design and installation of street lights along public roads in
subdivisions with Virginia Power and is reimbursed by the developer for the cost of the street lights; and
WHEREAS, the contract for installation of public improvements between the Town of Leesburg and
the Catoctin Chase Limited Partnership (Trammel Crow) states that the Catoctin Chase Limited
Partnership is responsible for all public improvements shown on the approved construction plans which
includes street lights; and
WHEREAS, a letter of credit from American Security Bank, N.A., which has been reduced to
$121,823.00, was provided by the Catoctin Chase Limited Partnership to guarantee the installation of
public improvements in the Rosemeade Subdivision; and
WHEREAS, the town sent an invoice in the amount of $23,000.00 to the Catocfin Chase Limited
Partnership in October 1990 to reimburse the town for the cost of street light installation in the
Rosemeade Subdivision; and
WHEREAS, additional notices have been sent to Catoctin Chase Limited Partnership requesting
payment and as of May 15, 1991 the town has received no payments towards the $23,000.00 invoice for
street lights; and
WHEREAS, Catoctin Chase Limited Partnership has not complied with the provisions of the contract
for Installation of Public Improvements since the invoice for $23,000.00 for street lights in the Rosemeade
Subdivision has not been paid.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
A RESOLUTION:
-2-
THE ROSEMEADE SUBDIVISION
SECTION I. The Town Manager is hereby authorized to declare the Catoctin Chase Limited
Partnership in default of its contract for public improvements for the Rosemeade Subdivision as it pertains
to installation of street lights and to request payment pursuant to the letter of credit from American
Security Bank, N.A. in the amount of $23,000.00, plus any interest and penalty that may be imposed by
Virginia Power to reimburse the town for the cost of installation of street lights in the Rosemeade
Subdivision.
SECTION II. The remaining balance of said letter of credit shall remain in full force and effect for
completion of any and all unfinished public improvements in the Rosemeade Subdivision.
SECTION III. The Town Manager and Town Attorney are also authorized to prepare and execute
all required documents and undertake all necessary actions to enforce all terms of the contract for public
improvements for the Rosemeade Subdivision.
PASSED this 28th day of lqay , 1991.
ATTEST:
rosemeade.sub
Town of Leesburg