HomeMy Public PortalAbout1995_07_25_R158 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED July 25. 1995
95-158 ADOPTED July 25. 1995
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF
PUBLIC IMPROVEMENTS AND APPROVING A PERFORMANCE
GUARANTEE FOR EXETER SECTION 7
Pulte Home Corporation, the developer of Exeter Section 7, has not
WHEREAS,
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
WHEREAS, Pulte Home Corporation was granted time extensions in July, 1993 and
September, 1994 and work continues in this section; and
WHEREAS, the developer has requested another one (1) year time extension to complete
the public improvements which primarily includes sidewalk, final paving and final grading; and
WHEREAS, a letter of credit from NationsBank in the amount of $1,048,311.00 was
provided by the developer to guarantee the installation of public improvements for Exeter Section
7; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$1,048,311.00 and recommends approval of a six month time extension to complete the
remaining public improvements.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. A time extension of six (6) months for the installation of public
improvements is hereby approved for Exeter Section 7.
SECTION II. The letter of credit from NationsBank in the amount of $1,048,311.00 is
approved to guarantee the installation of public improvements for Exeter Section 7.
A RESOLUTION:
-2-
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF
PUBLIC IMPROVEMENTS AND APPROVING A PERFORMANCE
GUARANTEE FOR EXETER SECTION 7
PASSED this 25TH day of July , 1995.
ames E Clem, Mayor
Town of Leesburg
ATTEST:
Clerk of Council