HomeMy Public PortalAbout2000_01_11_r005 The Town of
Leesburg,
Virginia
RESOLUTION NO.
2000-5
PRESENTED
ADOPTED
January 11, 2000
January 11, 2000
A RESOLUTION:
MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS INSTALLED IN RIVER CREEK PHASE I
SECTION 2 (LANDBAY B), PHASE II SECTION 2 (LANDBAY C), PHASE
II SECTION 2A (LANDBAY C), PHASE II SECTION 2B (LANDBAY C),
PHASE II SECTION 2C (LANDBAY C), PHASE III SECTION 3 (LANDBAY
G) AND PHASE III SECTION 6 (LANDBAY R)
WHEREAS, the town's Director of Engineering and Public Works has reviewed the
improvements installed to date in River Creek Phase I Section 2 (Landbay B), Phase II Section 2
(Landbay C), Phase II Section 2A (Landbay C), Phase II Section 2B (Landbay C), Phase II Section 2C
(Landbay C), Phase III Section 3 (Landbay G) and Phase III Section 6 (Landbay R) and certified that the
value of work performed is as follows:
; and
Phase I Section 2 (Landbay B)
Phase II Section 2 (Landbay C) -
Phase II Section 2A (Landbay C) -
Phase II Section 2B (Landbay C) -
Phase II Section 2C (Landbay C) -
Phase III Section 3 (Landbay G) -
Phase III Section 6 (Landbay R) -
$108,281.25
$ 68,375.70
$ 81,870.30
$ 44,736.30
$169,181.10
$139,049.10
$177,371.10
WHEREAS, corporate surety bonds from the Fidelity & Deposit Company of Maryland in the
amounts listed below were provided by the developer and approved by the Council to guarantee
installation of public improvements for the following sections of the River Creek Development:
Phase I Section 2 (Landbay B) -
Phase II Section 2 (Landbay C) -
Phase II Section 2A (Landbay C) -
Phase II Section 2B (Landbay C) -
Phase II Section 2C (Landbay C) -
Phase III Section 3 (Landbay G) -
Phase III Section 6 (Landbay R) -
$120,312.50
$ 75,973.O0
$ 90,967.00
$ 49,707.00
$187,979.00
$154,499.00
$197,079.00
; and
WHEREAS, the Director of Engineering and Public Works recommends reducing the
performance guarantees for public improvements installed in these sections of the River Creek
Development.
A RESOLUTION:
-2-
MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS INSTALLED IN RIVER CREEK PHASE I,
SECTION 2 (LANDBAY B), PHASE II SECTION 2 (LANDBAY C), PHASE
II SECTION 2A (LANDBAY C), PHASE II SECTION 2B (LANDBAY C),
PHASE II SECTION 2C (LANDBAY C), PHASE III SECTION 3 (LANDBAY
G) AND PHASE III SECTION 6 (LANDBAY R)
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bonds from the Fidelity & Deposit Company of Maryland
are reduced as follows:
Phase I Section 2 (Landbay B) -
Phase II Section 2 (Landbay C) -
Phase II Section 2A (Landbay C) -
Phase II Section 2B (Landbay C) -
Phase II Section 2C (Landbay C) -
Phase III Section 3 (Landbay G) -
Phase III Section 6 (Landbay R) -
$12,031.25
$ 7,597.30
$ 9,096.70
$ 4,970.70
$18,797.90
$15,449.90
$19,707.90
SECTION II. The Town Manager shall notify the developer that liability for corporate surety
bond funds has been reduced as outlined in Section I of this resolution and that this reduction does not
constitute acceptance of public improvements by the town or relieve the developer of responsibilities
outlined in the contract for public improvements for River Creek Phase I Section 2 (Landbay B), Phase II
Section 2 (Landbay C), Phase II Section 2A (Landbay C), Phase II Section 2B (Landbay C), Phase II
Section 2C (Landbay C), Phase III Section 3 (Landbay G) and Phase III Section 6 (Landbay R).
PASSED this 11a day of January, 2000.
ST:
Clerk of Council
Jam/es E. Clem, Mayor
Town of Leesburg
R:RiverCreekDevReductions