HomeMy Public PortalAbout2000_01_11_r006The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED January 11, 2000
2000-6
ADOPTED January 11, 2000
MAKING A REDUCTION OF THE PERFORMANCE GUARANTEES
FOR PUBLIC IMPROVEMENTS INSTALLED IN SYCAMORE HILL
PHASE I SECTIONS 2 AND 3, PHASE II SECTIONS 1, 2, AND 3,
RECREATION CENTER AND PHASE I OFFSITE STORMWATER
MANAGEMENT POND
WHEREAS, the town' Director of Engineering and Public Works has reviewed the
improvements installed to date in Sycamore Hill Phase I Sections 2 and 3, Phase II Sections 1, 2,
and 3, Recreation Center and Phase I Offsite Stormwater Management Pond (SWMP) and
certified that the value of work performed is as follows:
Phase I Section 2 -
Phase I Section 3 -
Phase II Section 1 -
Phase II Section 2 -
Phase II Section 3 -
Recreation Center -
Phase I Offsite SWMP -
$ 48,877.00
$ 39 455.00
$ 39 204.00
$ 5 488.00
$141814.00
$ 20.606.30
$ 17.752.70
WHEREAS, letters of credit from the Ohio Savings Bank in the amounts listed below
were provided by the developer and approved by the Council to guarantee installation of public
improvements in the following sections of the Sycamore Hill Development:
Phase I Section 2 -
Phase I Section 3 -
Phase II Section 1 -
Phase II Section 2 -
Recreation Center -
Phase I Offsite SWMP -
$ 81,935.00
$ 89,000.00
$ 94,953.OO
$ 31,485.00
$ 30,109.00
$ 25,839.00
WHEREAS, a cash bond was provided in the amount of $188,802.00 for Sycamore Hill
Phase II Section 3 and approved by the Council to guarantee installation of public improvements;
and
A RESOLUTION:
-2-
MAKING A REDUCTION OF THE PERFORMANCE GUARANTEES
FOR PUBLIC IMPROVEMENTS INSTALLED IN SYCAMORE HILL
PHASE I SECTIONS 2 AND 3, PHASE II SECTIONS 1, 2, AND 3,
RECREATION CENTER AND PHASE I OFFSITE STORMWATER
MANAGEMENT POND
WHEREAS, the Director of Engineering and Public Works recommends reducing the
performance guarantees for public improvements installed in these sections of the Sycamore Hill
Development.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I.
SECTION II.
$46,988.OO.
The letters of credit from the Ohio Savings Bank are reduced as follows:
Phase I Section 2 -
Phase I Section 3 -
Phase II Section 1 -
Phase II Section 2 -
Recreation Center -
Phase I Offsite SWMP -
$33,058.00
$49,545.00
$55,749.00
$25,997.OO
$ 9,502.70
$ 8,086.30
The cash bond for Sycamore Hill Phase II Section 3 is reduced to
SECTION III. The Town Manager shall notify the developer that liability for letter of
credit and cash bond funds has been reduced as outlined in Sections I and II 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
Sycamore Hill Phase I Sections 2 and 3, Phase II Sections 1, 2, and 3, Recreation Center and
Phase I Offsite Stormwater Management Pond.
PASSED this 11th day of January, 2000.
ATTEST:
Clerk of Council
J . Clem, Mayor
Town of Leesburg
R: SycaHillDevReductions