HomeMy Public PortalAbout2002_02_26_r029The Town of
Leesburg,
PRESENTED February_ 26, 2002
RESOLUTION NO. 2'002-2 9 ADOPTED February 26, 2002
A RESOLUTION: AUTHORIZING TIME EXTENSIONS FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING PERFORMANCE GUARANTEES
FOR KINCAID FOREST SECTIONS 5, 7A, 10B AND 10C
WHEREAS, Kincaid VA, L.L.C., the developer of Kincaid Forest Sections 5, 7A, 10B and
10C 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 a time extension to complete the public
improvements; and
WHEREAS, letters of credit in the amount of $77,465.30 for Section 5; $43,645.70 for
Section 7A; $210,681.00 for Section 10B; and $127,226.60 for Section 10C, from the Mercantile-
Safe Deposit and Trust Company were provided by the developer to guarantee the installation of
public improvements; and
WHEREAS, the town's Director of Engineering and Public Works recommends a time
extension to October 25, 2002 for Section 5; September 29, 2002 for Section 7A; December 2, 2002
for Section 10B; and November 9, 2002 for Section 10C.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letters of credit from the Mercantile-Safe Deposit and Trust Company in
the amounts $77,465.30, $43,645.70, $210,681.00 and $127,226.60 are approved to guarantee the
installation of public improvements in Kincaid Forest Sections 5, 7A, 10B and 10C.
A RESOLUTION:
-2-
AUTHORIZING TIME EXTENSIONS FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING PERFORMANCE GUARANTEES
FOR KINCAID FOREST SECTIONS 5, 7A, 10B, AND 10C
SECTION II. The time extensions to October 25, 2002 for Section 5; September 29, 2002 for
Section 7A; December 2, 2002 for Section 10B; and November 9, 2002 for Section 10C for
completion of the public improvements are approved.
PASSED this 26th day of February 2002.
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Town of Leesburg
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