HomeMy Public PortalAbout1999_12_14_r363The Town of
Leesburg,
Virginia
RESOLUTION NO.
PRESENTED December 14, 1999
99-363 ADOPTED December 14, 1999
A RESOLUTION: AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR OLD WATERFORD KNOLL SECTION 3
WHEREAS, Richmond American Homes, the developer of Old Waterford Knoll Section 3, 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 nine (9) month time extension to complete the public
improvements; and
WHEREAS, a corporate surety bond in the amount of $207,754.38 from the United States
Fidelity & Guaranty was provided by the developer to guarantee the installation of public improvements
in Old Waterford Knoll Section 3; and
WHEREAS, the Director of Engineering and Public Works recommends a six (6) month time
extension for completion of the public improvements.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from the United States Fidelity & Guaranty in the
amount of $207,754.38 is approved to guarantee the installation of public improvements in Old Waterford
Knoll Section 3.
SECTION II. A time extension to May 14, 2000 for completion of the public improvements is
approved.
PASSED this 14m day of December, 1999.
A~ST:
Clerk of Council
J .Clem, Mayor
Town of Leesburg
R:OldWtrKnollSec3