HomeMy Public PortalAbout1999_03_10_r063The Town of
Leesburg,
Virginia
PRESENTED March 9, 1999
RESOLUTION NO. 99- 63 ADOPTED March .'.1,01999
A RESOLUTION: AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR POTOMAC CROSSING SECTION 3A- 1
WHEREAS, Arcadia Building Company, the developer of Potomac Crossing Section 3A-1, 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 $122,643.70 from The American
Insurance Company was provided by the developer to guarantee the installation of public improvements
in Potomac Crossing Section 3A-1.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from The American Insurance Company in the
amount of $122,643.70 is approved to guarantee the installation of public improvements in Potomac
Crossing Section 3A-1.
SECTION II. A time extension to September
improvements is approved.
PASSED thist~th day of March, 1999.
Clerk of Council
17, 1999 for completion of the public
J~es E. Clem, Mayor
Town of Leesburg
R:potcr3Al