HomeMy Public PortalAbout2002_02_26_r031The Town of
Leesburg,
trglnla
RESOLUTION NO.
A RESOLUTION:
2002-31
AUTHORIZING TIME
IMPROVEMENTS AND
EXTENSIONS
APPROVING
PRESENTED March 12, 2002
ADOPTED March 12, 2002
FOR COMPLETION OF PUBLIC
PERFORMANCE GUARANTEES FOR
POTOMAC STATION SECTIONS 9A AND 9B
WHEREAS, Engle Homes/Virginia, Inc., the developer of Potomac Station Sections 9A and 9B 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, corporate surety bonds in the amount of $288,624.22 for Section 9A; and $233,233.13
for Section 9B, from the Travelers Casualty and Surety Company of America 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
August 23, 2002; and
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bonds from the Travelers Casualty and Surety Company of
America in the amounts $288,624.22 and $233,233.13 are approved to guarantee the installation of public
improvements in Potomac Station Sections 9A and 9B.
SECTION II. A time extension to August 23, 2002 for completion of the public improvements in
Potomac Station Sections 9A and 9B is approved.
PASSED this 12th day of March 2002.
C~/I~ of Council
Town of Leesburg
R:PotSta9B9BExt
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