HomeMy Public PortalAbout2001_05_08_r060The Town of
Leesburg,
lrglnla
PRESENTED May 8, 2001
RESOLUTION NO. 2001-60 ADOPTED May 8, 2001
A RESOLUTION: AUTHORIZING TIME EXTENSIONS FOR COMPLETION OF
PUBLIC IMPROVEMENTS AND APPROVING PERFORMANCE
GUARANTEES FOR STRATFORD PHASE A, SECTION 1; PHASE A,
SECTION 2; PHASE B, SECTION l&3; AND PHASE B, SECTION
2&4
WHEREAS, Stratford Associates, L.C., the developer of Stratford Phase A, Section 1;
Phase A, Section 2; Phase B, Section l&3; and Phase B, Section 2&4, 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
WHEREAS, the developer has requested time extensions to complete the public
improvements; and
WHEREAS, letters of credit from the Virginia First Savings Bank in the amount of
$67,832.00 for Phase A, Section 1; $50,173.00 for Phase A, Section 2; $128,836.00 for Phase B,
Section l&3; and $302,559.00 for Phase B, Section 2&4 v~ere provided by the developer to
guarantee the installation of public improvements; and
WHEREAS, the town's Director of Engineering and Public Works recommends time
extensions as follows for completion of the public improvements:
Phase A, Section 1 -
Phase A, Section 2 -
Phase B, Section l&3 -
Phase B, Section 2&4 -
March 13, 2002
September 13, 2001
September 13, 2001
March 13, 2002
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
A RESOLUTION:
-2-
AUTHORIZING TIME EXTENSIONS FOR COMPLETION OF
PUBLIC IMPROVEMENTS AND APPROVING PERFORMANCE
GUARANTEES FOR STRATFORD PHASE A, SECTION 1; PHASE A,
SECTION 2; PHASE B, SECTION l&3; AND PHASE B, SECTION
2&4
SECTION I. The letters of credit from the Virginia First Savings Bank in the amount of
$67,832.00 for Phase A, Section 1; $50,173.00 for Phase A, Section 2; $128,836.00 for Phase B,
Section l&3; and $302,559.00 for Phase B, Section 2&4 are approved to guarantee the
installation of public improvements in Stratford Phase A, Section 1; Phase A, Section 2; Phase B,
Section l&3; and Phase B, Section 2&4.
SECTION II. The time extensions for completion of the public improvements in
Stratford Phase A, Section 1; Phase A, Section 2; Phase B, Section l&3; and Phase B, Section
2&4 are approved as follows:
Phase A, Section 1 -
Phase A, Section 2 -
Phase B, Section l&3 -
Phase B, Section 2&4 -
March 13, 2002
September 13, 2001
September 13, 2001
March 13, 2002
PASSED this 8th day of May 2001.
ATTEST:
erk of Council
B.J. Webl/, Mayor
ToWn of Leesburg
R:Stratford Extensions