HomeMy Public PortalAbout2001_09_25_r152The Town of
I eesburg,
irginia
RESOLUTION NO.
A RESOLUTION:
2001-152
AUTHORIZING A TIME
COMPLETION OF PUBLIC
PRESENTED September 25, 2001
ADOPTED September 25, 2001
EXTENSION WITH CONDITIONS FOR
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, installation of the Picnic Area, Tot Lot, and the wooden fence on the east side of the
property are a concern of the Homeowners Association and residents; 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, 2002 with conditions 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, 2002 for completion of the public improvements is
approved with the following conditions:
1. Installation of the Picnic Area shall be completed by November 9, 2001.
2. Installation of the Tot Lot shall be completed by November 9, 2001.
3. Installation of the wooden fence on the east side of the property shall be completed by
November 9, 2001.
A RESOLUTION:
-2-
AUTHORIZING A TIME EXTENSION WITH CONDITIONS FOR
COMPLETION OF PUBLIC IMPROVEMENTS AND APPROVING A
PERFORMANCE GUARANTEE FOR LEESBURG GATEWAY CONDOS
SECTION IlL Failure by the developer to meet any of the deadlines established in the conditions
of Section II will constitute a default under the contract. The developer may request additional time
extensions if the improvements are not completed due to factors beyond the developer' s control.
SECTION IV. The conditions of this resolution shall be incorporated as amendments to the
contract for installation of the public improvements for Leesburg Gateway Condos.
SECTION V. In the event the developer fails to meet any of the deadlines established in Section
II of this resolution then the Town Manager is hereby authorized to declare the developer in default of its
contract for public improvements for Leesburg Gateway Condos and to request payment pursuant to the
letter of credit from the Resource Bank in the amount of $130,393.84 and to prepare and execute all
required documents and undertake all necessary actions to enforce all terms of said contract.
PASSED this 25th day of September 2001.
C~k of-~(~t~ncil
B.J. Wd~, Mayor
Town of Leesburg
R:GatewayCondosTimeExt