HomeMy Public PortalAbout1992_05_12_R065'The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRF~ENTF_a) May 12, 1992
92-65 ADOPT~ May 12, 1992
AUTHORIZING A TI1VI~ MXTENSION FOR COMPLETION OF PUBLIC
nViPROVEM~NTS FOR THI~ROSEMF_ukDE SUBDMSION
WHEREAS, the Sunset Hill Corporation, the successor to Catoctin Chase Limited Partnership,
the developer of the Rosemeade Subdivision, has not completed an 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 the previously approved the time extension thereto
which expires on May 8, 1992; and
WHEREAS, the developer has requested a 30 day time extension to complete the public
improvements; and
WHEREAS, a letter of credit in the initial amount of $610,000.00 from American Security Bank
was provided by the developer to guarantee the installation of public improvements in the Rosemeade
Subdivision and this letter of credit was reduced to the current amount of $98,518.00 by Resolutions No.
89-75, and No. 91-278. This letter of credit automaticany renews for six month periods and is currently
in effect until September 30, 1992; and
WHE~, the completion of the public improvements to the satisfaction of the town and the
residents of Rosemeade is a high priority of the town and the developer should proceed with completion
of the work as soon as possible.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. A time extension to June 8, 1992 for completion of the public improvement is
approved.
A RESOLUTION:
-2-
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVE1KENTS FOR THE ROSEMF_~ADE SUBDIVISION
SECTION II.
amended remain in full force and effect.
PASSED this 12th day of
All conditions established in Resolution Number 91-278 which are not hereby
May , 1992
Robert E Sevil~/Mayor
Town of Leesburg
ATTEST:
Clerk of Council
r:rosemeade