HomeMy Public PortalAbout1999_05_25_r154The Town of
Leesburg,
Virginia
PRESENTED May 25, 1999
RESOLUTION NO. 99-154 ADOPTED May 25, 1999
A RESOLUTION: AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR THE DRY MILL TOWNHOUSE SUBDIVISION
WHEREAS, KL Olde Towne, LCC, the developer of the 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 previously approved time extension; 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 December 4, 1999 for completion of the
public improvements is approved.
PASSED this 25th day of May, 1999.
Clerk of Council
R:drymilltwnhs
J~es E. Clem, Mayor
Town of Leesburg