HomeMy Public PortalAbout1998_04_28_R109The Town of
Leesburg,
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PRESENTED April 28, 1998
RESOLUTION NO. 98-109
ADOPTED April 28, 1998
A RESOLUTION:
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF
PUBLIC IMPROVEMENTS AND MAKING A REDUCTION OF THE
PERFORMANCE GUARANTEE FOR PUBLIC IMPROVEMENTS IN
POTOMAC STATION SECTION lA
WHEREAS, John Laing Homes (Virginia), Inc., and Goose Creek Communities L.L.C.,
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, John Laing Homes (Virginia), Inc., and Goose Creek Communities L.L.C.,
the developer of Potomac Station Section lA, has completed a large amount of the public
improvements and has requested a reduction of the performance guarantee; and
WHEREAS, the town's Director of Engineering and Public Works has reviewed the
public improvements installed to date in Potomac Station Section lA and certified that the value
of work performed is $193,761.84; and
WHEREAS, a corporate surety bond in the amount of $242,202.30 from the Seaboard
Surety Company was provided by the developer and approved by the Council to guarantee
installation of public improvements for Potomac Station Section 1A.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
A RESOLUTION:
-2-
AUTHORIZING A TIME EXTENSION AND MAKING A
REDUCTION OF THE PERFORMANCE GUARANTEE FOR
POTOMAC STATION SECTION IA
SECTION I. A time extension to April 4, 1999 for completion of the public
improvements is approved.
SECTION II. The corporate surety bond from the Seaboard Surety Company in the
amount of $242,202.30 is reduced to $48,440.46 and is approved to guarantee the installation of
public improvements in Potomac Station Section IA.
SECTION III. The Town Manager shall notify the developer that liability for the
corporate surety bond funds has been reduced as outlined in Section II 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 Potomac
Station Section IA.
PASSED this 28th day of April, 1998.
ATTEST:
Clerk of Council
J/~rnes E. Clem, Mayor
Town of Leesburg
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