HomeMy Public PortalAbout1998_12_08_R281The Town of
Leesburg,
Virg' '
'lnla
RESOLUTION NO.
A RESOLUTION:
PRESENTED December 8, 1998
98-281 ADOPTED December 8, 1998
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR DRY MILL TOWNHOUSE SUBDIVISION
ATTEST:
Clerk of Council
J~es E. Clem, Mayor
Town of Leesburg
R:drymill
WHEREAS, KL Olde Towne LLC, the developer of Dry Mill Townhouse Subdivision, 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 letter of credit in the amount of $85,339.00 from the Ohio Savings Bank was
provided by the developer to guarantee the installation of public improvements in the Dry Mill
Townhouse Subdivision.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letter of credit from the Ohio Savings Bank in the amount of $85,339.00 is
approved to guarantee the installation of public improvements in the Dry Mill Townhouse Subdivision.
SECTION II. A six (6) month time extension to June 4, 1999 for completion of the public
improvements is approved.
PASSED this 8th day of December, 1998.