HomeMy Public PortalAbout1998_02_24_R057 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
98-57
AUTHORIZING
IMPROVEMENTS AND APPROVING A
FOR PARK VIEW ESTATES
PRESENTED February_ 24, 1998
ADOPTED February 24, 1998
A TIME EXTENSION FOR COMPLETION OF PUBLIC
PERFORMANCE GUARANTEE
WHEREAS, Leesburg Residential Partners, P.C., the developer of Park View Estates, 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
previously approved time extension; and
WHEREAS, the developer has requested a nine (9) month time extension to complete the public
improvements; and
WHEREAS, a letter of credit in the amount of $99,830.82 from Virginia Savings Bank was
provided by the developer to guarantee the installation of public improvements in Park View Estates.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letter of credit from Virginia First Savings Bank in the amount of
$99,830.82 is approved to guarantee the installation of public improvements in Park View Estates.
SECTION II. A six (6) month time extension to August 28, 1998 for completion of the public
improvements is approved.
PASSED this 24th day of February, 1998.
ATTEST:
Clerk of Council
Clem, Mayor
Town of Leesburg
R:parkview