HomeMy Public PortalAbout1996_02_13_R025 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED February 13, 1996
96-25 ADOPTED February 13~ 1996
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR FORT BEAUREGARD TOWNHOUSES
Townhouses.
PASSED this 13th day of
AT'i~EST;.
Clerk of Council
February , 1996.
Ja~es E. Clem, Mayor
Town of Leesburg
R:ftbeauth.res
WHEREAS, F & M Bank - Winchester, the developer of Fort Beauregard Townhouses, 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
WHEREAS, the developer has requested a six (6) month time extension to complete the public
improvements; and
WHEREAS, a letter of credit in the amount of $67,500.00 from F & M Bank - Massanutten of
Harrisonburg, Virginia was provided by the developer to guarantee the installation of public
improvements for Fort Beauregard Townhouses; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$67,500.00 to guarantee installation of the remaining public improvements for Fort Beauregard
Townhouses.
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 Fort Beauregard Townhouses.
SECTION II. The letter of credit from the F & M Bank - Massanutten in the amount of
$67,500.00 is approved to guarantee the installation of public improvements for Fort Beauregard