HomeMy Public PortalAbout1997_02_11_R035The Town of
Leesburg,
PRESENTED February 11, 1997
RESOLUTION NO. 97-35 ADOPTED February 11, 1997
A RESOLUTION: MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE AND
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
THE GREENWAY FARM PUBLIC RECREATION AREA
WHEREAS, Trafalgar House, the developer of Greenway Farm Public Recreation Area, 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) year time extension to complete the public
improvements; and
WHEREAS, a corporate surety bond in the amount of $136,000.00 from the American Home
Assurance Company was provided to guarantee installation of public improvements for the Greenway Farm
Public Recreation Area; and
WHEREAS, the town's Director of Engineering and Public Works has reviewed the public
improvements installed to date in the Greenway Farm Public Recreation Area and certified that the value of
work performed is $120,203.00; and
WHEREAS, construction of the public park is completed and the part could be turned over to the
town in the near future; and
WHEREAS, other public improvements, which include public roads, storm drains, sanitary sewer and
water lines are also included with this set of construction drawings and the bond but are not ready for
acceptance; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of $15,797.00
to guarantee installation of the remaining public improvements for Greenway Farm Public Recreation Area.
A RESOLUTION:
-2-
MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE AND
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
THE GREENWAY FARM PUBLIC RECREATION AREA
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from the American Home Assurance Company in the amount
of $136,000.00 is reduced to $15,797.00 and is approved to guarantee the installation of public improvements
for the Greenway Farm Public Recreation Area.
SECTION II. The Town Manager shall notify the developer that liability for the letter of credit has
been reduced as outlined in Section I of this resolution and that this reduction does not constitute acceptance
of public improvements by the town or relieve the developer of responsibilities outlined in the contract for
public improvements for the Greenway Farm Public Recreation Area.
SECTION III. A time extension of one (1) year for the installation of public improvements is hereby
approved for Greenway Farm Public Recreation Area.
PASSED this llth day of
~EST:
Clerk of Council
February , 1997.
J. Ja~nes E. Clem, Mayor
' Town of Leesburg
R: grnwypra, res