HomeMy Public PortalAbout1999_07_13_r208The Town of
Leesburg,
Virginia
PRESENTED July 13, 1999
RESOLUTION NO. 99-208 ADOPTED July 13~ 1999
ARESOLUTION: AUTHORIZING A TIME EXTENSION FOR COMPLETION OF
PUBLIC IMPROVEMENTS AND APPROVING A PERFORMANCE
GUARANTEE FOR SYCAMORE HILL PHASE 1, SECTION 1
WHEREAS, Sycamore Hill L.L.C., the developer of Sycamore Hill Phase 1, Section 1,
has not completed all the required 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, all of the public improvements have been completed with the exception of a
portion of roadway on Sycamore Hill Drive which will be completed with Phase 1, Section 4;
and
WHEREAS, a letter of credit in the amount of $221,686.89 from the Ohio Savings Bank
was provided by the developer to guarantee the installation of public improvements in Sycamore
Hill Phase 1, Section 1.
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
$221,686.89 is approved to guarantee the installation of public improvements in Sycamore Hill
Phase 1, Section 1.
A RESOLUTION:
-2-
AUTHORIZIING A TIME EXTENSION FOR COMPLETION OF
PUBLIC IMPROVEMENTS AND APPROVING A PERFORMANCE
GUARANTEE FOR SYCAMORE HILL PHASE 1, SECTION 1
SECTION II. A time extension to
improvements is approved.
PASSED this 13th day of July, 1999.
Clerk of Council
R:sycalphltmext
June 26, 2000 for completion of the public
J'~es E. Clem, Mayor
Town of Leesburg