HomeMy Public PortalAbout1994_03_22_R060The Town of
Leesburg,
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RESOLUTION NO.
A RESOLUTION:
PRESENTED March 22 ~ 1994
94-60 ADOPTED Narch 22~ 1994
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING THE PERFORMANCE
GUARANTEE FOR POTOMAC CROSSING SECTION 1E
WHEREAS, Richmond American, the developer of Potomac Crossing Section 1E has 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
a one-year time extension; and
WHEREAS, the developer has requested an additional one (1) year time extension to complete
the public improvements; and
WHEREAS, a corporate surety bond in the amount of $91,600.00 from American Motorists
Insurance Company was provided by the developer to guarantee the installation of public improvements
in Potomac Crossing Section 1E. This corporate surety bond is in effect until March 21, 1995; and
WHEREAS, Richmond American does not own the last 18 lots in Section 1E; and
WHEREAS, Arkin Homes is the owner of the remaining lots in Section 1E and currently have
several houses under construction and is actively marketing the unsold lots under the name Overlook at
Potomac Crossing; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$91,600.00 as sufficient to complete the public improvements in Potomac Crossing Section 1E; and
WHEREAS, the completion of the public improvements 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. The corporate surety bond from American Motorists Insurance Company in the
amount of $91,600.00 is approved to guarantee the installation of public improvements in Potomac
Crossing Section 1E.
RE
-2-
AUTHORIZING A TIME EXTENSION FOR COMPLETION
IMPROVEMENTS FOR POTOMAC CROSSING SECTION 1E
OF PUBLIC
SECTION II.
is approved.
PASSED this
A time extension to March 21, 1995 for completion of the public improvements
22nd day of
Harch , 1994.
James E. Clem, Mayor
Town of Leesburg
ATTEST:
Clerk of Council
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