HomeMy Public PortalAbout2000_07_11_r132 The Town of
I eesburg,
- irginia
PRESENTED July 11, 2000
RESOLUTION NO. 2000-132 ADOPTED July 11, 2000
A RESOLUTION: AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR LEESBURG GATEWAY CONDOS
WHEREAS, Leo Chiang Development, the developer of Leesburg Gateway Condos, 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 extensions; and
WHEREAS, the developer has requested a time extension to complete the public improvements;
and
WHEREAS, a letter of credit in the amount of $130,393.84 from the Resource Bank was
provided by the developer to guarantee the installation of public improvements in Leesburg Gateway
Condos; and
WHEREAS, the town's Director of Engineering and Public Works recommends a time extension
to March 14, 2001 for completion of the public improvements.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letter of credit from the Resource Bank in the amount of $130,393.84 is
approved to guarantee the installation of public improvements in Leesburg Gateway Condos.
SECTION II. A time extension to March 14, 2001 for completion of the public improvements is
approved.
PASSED this 11th day of July 2000.
ATTEST:
erk of Council
Town of Leesburg
R:GatewayCondos