HomeMy Public PortalAbout1996_02_13_R031The Town of
Leesburg,
trgm a
RESOLUTION NO.
A RESOLUTION:
PRESENTED February 13~ 1996
96-31 ADOPTED February 13, 1996
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR STONEGATE PHASE I, SECTION 4
AT'TEST:
Clerk of Council
February , 1996.
J0aqfes E. Clem, Mayor
Town of Leesburg
R:stngate4.res
Phase I, Section 4.
PASSED this
13th day of
WHEREAS, Trafalgar House Residential, the developer of Stonegate Phase I, Section 4, 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 one (1) time extension to complete the public
improvements; and
WHEREAS, a corporate surety bond in the amount of $336,000.00 from American Home
Assurance Company was provided by the developer to guarantee the installation of public improvements
for Stonegate Phase I, Section 4; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$336,000.00 to guarantee installation of the remaining public improvements for Stonegate Phase I,
Section 4.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. A time extension of one (1) year for the installation of public improvements is
hereby approved for Stonegate Phase I, Section 4.
SECTION II. The corporate surety bond from American Home Assurance Company in the
amount of $336,000.00 is approved to guarantee the installation of public improvements for Stonegate