HomeMy Public PortalAbout1992_12_08_R248'The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
92-248
PRESENTED December 8~ 1992
ADOPTED December 8, 1992
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
TAVISTOCK FARMS SECTION 9
WHEREAS, the Poretsky Building Group, the former developers of Tavistock Farms Section 9, did
not complete ail 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 a
one year time extension; and
WHEREAS, the current owner of Tavistock Farms Section 9 is SAD Reaity Corporation, which
is owned by the Resolution Trust Corporation (RTC); and
WHEREAS, SAD Reaity Corporation has requested a one year time extension to complete the
installation of the remaining public improvements of Tavistock Farms Section 9; and
WHEREAS, the current performance guarantee is in the form of cash in the amount of $38,580.00
which was paid to the town in November 1991 when a claim per Resolution 91-228 was made against the
performance guarantee provided by the Poretsky Building Group; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of $38,580.00
to guarantee installation of the remaining public improvements of Tavistock Farms Section 9.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. A six (6) month time extension for the installation of public improvements is hereby
approved for Tavistock Farms Section 9.
A RESOLUTION:
-2-
AUTHORIZING A TIME EXTENSION FOR INSTAIJ,ATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
TAVISTOCK FARMS SECTION 9
SECTION II. The $38,580.00 paid to the town will continue to be held to guarantee the
installation of public improvements for Tavistock Farms Section 9.
PASSED this 8th day of December , 1992.
ATTEST:
James E. Clem, Mayor
Town of Leesburg
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